I am interested in starting a property management company and will be working with a friend who has a RE license.

I put 5% down using FHA and I am now thinking about refinancing into conventional to get rid of PMI and re-use FHA again in the near future (1-3 years).My question is, if I pay for an appraiser to come out and give me a market value on my property, can I use that number and report with a bank or will the bank want a separate appraisal done?

@Charlie MacPherson The role of the RE agent will change with time but I doubt it can be completely eliminated. 

@Wesley Mitchell welcome to bigger pockets. this is a great community to start your journey into RE Investing.

So far since the middle of Jan I’ve read:1) Rich Dad, Poor Dad2) The Millionaire RE investor3) The Book on Estimating Rehab Costs4)Getting things done by David Allen5) RE with no or low money down 6) Multifamily Millions 1 BP podcast every morning, I scour the BP forums and YouTube vids.

Maybe offer to do something with your 3-4k for the community, maybe a fountain out front or something along those lines, along with a promise that's you won't re rent the place after this tenant moves out, be that's in a year or in 5 years.

After college he can join an orchestra or teach while driving his Real Estate forward as he wants his RE license when he turns 18.  

Probably should talk to a local RE attorney, you should be able to get a free consultation and figure out what you need to know.

Go on appointment, get the contract ratified and re assign the contract (wholesale) to an investor and rinse and repeat...

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule: The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 25% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information: Signed Draw Request by borrower and contractorSigned All Bills Paid Affidavitreview and approve the draw request and will release funds for disbursementA check will be issued in the name of the borrower and contractor and delivered to borrower via USPSAn inspection of work to date will be performed at 50% completeFinal Draw Information: Signed Draw RequestFinal inspection/Completion Certificate will be required for release of final fundsA Title Update showing property free from lien or encumbranceGeneral Contractor’s Lien Waiver AffidavitAffidavit of Completion GMG will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns: Changes to the initial plan are not permitted unless prior approval by Gateway Mortgage.