That is the financial contingency from 22.The financial contingency spells out what lender you use and how much downpayment.

It is considered a contingent liability on your personal balance sheet when you go to fill out a PFS or personal financial statement.  

My wife wants a nice home, and so do I, but I also want to be able to set us up for financial success in the future.

@Alex Sanfilippo This publication should be a good (and extensive) resource for you. https://www.irs.gov/pub/irs-pdf/p587.pdf

I would make sure you read the resources here on BP to get it right so that you can avoid as much frustration (and lost mailing costs!)

Being this is an FHA loan thru New day Financial I heard it is difficult for investors to get these deals.  

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The bank/lender will ask for all the financials on the property, check the income verse expenses, and many different aspects regarding the building a the project income and the historical treads in the area of the deal.You will not have to provide pay stubs, credit checks, employment checks, debt ratios, or anything the banks do while looking at a SFR deal.

When I was 16, I saw my parents real estate investment take a turn in assisting them pursue financial freedom and when I was 17 I saw the effects of bad mortgages on a close extended family member.  

@Gavin Clarke Well if you consider building wealth or financial independence through real estate investing and finding something that you love to do on a daily basis as "nerdy" then sign me up as nerd of the year!