I'd have interest in facilitating these types of deals and paying you that fee that's nothing for the value you are bringing if you really are. that's about 2 points on a hard money loan which isn't a lot, if you are flexible on payment structures we'd pay you out of construction draw proceeds each time we receive money we pay a portion of your commission back

I have enough savings for down payment 20% but I also hear that you have one chance of using FHA loan.

Negotiate with seller using the inspection report.Visit the area to get a feel for the weather/amenitiesIf you’re looking to get your money back down the line, don’t over spend on improvements Hope this helps! 

A lender usually a DSCR loan from a hard money lender.

Just light your money on fire. 

But for now I am continuing along with my normal W2, saving as much as possible, and learning every chance I get.I am looking to meet like-minded individuals and hopefully some mentors along the way.Steven              

"I'm sorry you are going through tough times; I want to work with you to help save your home from foreclosure please call to discuss options."

My concerns are debts that weren’t paid or charged off if it was recent and especially if it was property related (utilities, rent, etc).  7 times the rent just means that make a ton of money and spend a ton of money.  

If your certain you are doing this I would recommend just doing a cash out on your properties, around mid 7's.. having the funds available and put them into a savings account earning 4-5%..

But with your high income and not a lot of savings I would try to save as much as possible for the next few years and then reap the rewards.