Basically, I'd have to be comfortable with the cash flow in this deal.Cash Flow could be the only benefit to an investor.

Needless to say, if higher rents are possible, the numbers get much better.I am attracted by the property as it is in a B+ area where I would be very comfortable learning, sending my wife to show an apartment etc..

If you are not comfortable with all of this I would recommend getting an agent to repreent you.

As a rehabber you often have to put yourself in the retail buyer's shoes and ask yourself "would I feel comfortable buying this house and living next to people like that.

@Chris CantrellIt really depends on your comfort level.

I plan to pay it down quick to have access to the equity.My long term goal is to buy enough rental properties to live (very) comfortably in, but my short term goal is to flip houses as a full time job.

If you are uneasy Bob, that's fine, move on, I totally understand.I originate my own loans, that way I am totally comfortable with what's going on.

My plan is to do rehabs until I have earned enough capital to begin building a rental portfolio that earns enough true passive income to sustain a comfortable lifestyle(matter of preference).

Options:#1 wait till the 3 year mark to qualify#2 get a coborrower will be an occupant or non occupant#3 try to apply for a 2nd FHA loan with your own credit under one of the 4 exceptions for 2 FHA mortgages available if you qualify#4 wait and save till you're more comfortable with the qualifying environment Curious as to what you did?

It will get you comfortable with knowing that we investors, for the most part are regular people and enjoy teaching fellow investors.Good luck!