Originally posted by @Michael Fuller:@Jason Leavitt I didn’t know that it was a limit to units for the fha loan @Ryan Avila ok how much do mortgage insurance usually cost @Ryan Stumbaugh I added the points in the closing costMichael, google FHA MIP, as well as FHA self-sufficiency test.

On top of that, you're doing so and in an extremely unpredictable market with some of the highest costs and most complicated logistics on the planet (e.g. solar requirements, fire sprinklers, blower door test, CEQA, etc.) in the middle of a global pandemic no less...You mentioned having the property tied up, are you getting it at well below market value?

Problem 2, cost: This is a small project, designed to give new investors a chance to test the waters in a safe, low-commitment environment.

"The 2% rule in real estate is a rule of thumb which suggests that a rental property is a good investment if the monthly rental income is equal to or higher than 2% of the investment property price"$94,000 current rent/12 months = $7830 per month revenue$1,295,000 * 2% = $25,900 per month to pass this test Fail. 

Getting a covid test yourself and asking roommates to do so may go a long way.

I'm wondering if there's a middle ground here -- would it be at all feasible to purchase your own truck/gear and service/charge your own portfolio as a test run? 

You have to take a 24 and 48-hour course, then pass the national and state portion of the test.

You can try to do a search for the "Howey Test" and see what you think.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

Much of these considerations, by U.S. banks, are getting their spread sheets & accounts books looking in better order, as they face the the FED is now asking banks to be able to pass stress tests, in case any financial crisis, like occurred in 2008-2009, might flare up in late 2020 or in 2021.