because that is my ultimate goal

Whitney Hill, I was ultimately able to list the property. 

I think you might be better served by talking directly with a lender that originates FHA and USDA deals, since they are the ones that will ultimately bring the package for insurance into those agencies.

The ultimate beginners guide is where I started.

My ultimate goal with REI is to be able to hold a portfolio of multi-family and single-family homes and my main method would be the buy-and-hold strategy.  

This is one of the MAIN reasons I posted this thread, because like say a RE agent targeting the 'higher end,' I would prefer working with 'professionals,' who are either 'relocating,' or perhaps had a divorce, job loss and/ or BK filing... but now have good cashflow and a great job, or successful business venture... vs. people 'wishfully thinking' that will ultimately LOOSE their down payment,' the majority of the time.

Ultimately if I went through with this I'd like to keep the house in the family and put it up for rent. 

If so, the answer to your question depends on why you need this corporation.Start at the end and work backwards.What is the ultimate goal that you want to achieve?

If you haven't already read through it here's "Tenant Screening: The Ultimate Guide"https://www.biggerpockets.com/renewsblog/2013/01/2...

The only risk you take is losing all your money, as many do, but you will survive.