The regular FHA program is a solid option, although you normally have to buy a nicer property.

I notice in IRS Publication 537 that real estate dealers are forbidden from using the installment method and must realize all the gain in the year of the installment sale however it references some special rules in 26 U.S.

I believe there are programs and grants available for first time home buyers as well.Will anyone please shed some more light.

That was a special program back then, not sure if it's still done.

@Lisa Maturo Not everyone qualifies for FHA, so you might as well take advantage of the program while you're qualified and can live in it!

I believe that guy I spoke about ^ had a list of contractors that are already approved through their program.  

The listing was public on the MLS.

Is the source pulling a Goldman Sachs, whereby they tell their investors one thing but tell the public the exact opposite?  

(The program is Healthy Neighborhoods Program).I guess my question is .. being that I would like to get into investing ASAP and i feel like this would be a great small step , are there any more options out there that would be more optimal for my situation (hard money lender, other programs, better routes)? 

Jerry, there are several insurance programs for flips.