A good realtor should be able to negotiate things like closing date (on maybe the 6th or 7th of the month), seller carry back if needed (or useful), personal property to be included in the price, closing costs, buyer credits back for items in need of repair, home warranty, the list goes on.  

What's the best site for background checks and credit checks?

A replacement reserve escrow is established at closing and HUD can determine what and when you make repairs/improvements to the property.

The numbers look good:Location: Broadway HouseNumber of Units: 1Rent: $1,350.00 Square Feet: 1,666 Upfront Costs:Cost per Unit $95,000.00 Price: $80,000.00 Cost per Square Foot: $57.02 Cap Improvements & Repairs: $15,000.00Cash on Cash Return:19.84%Total: $95,000.00 Debt Coverage: [minimum 1.6] 1.78 20%Down: $19,000.00Capitalization Rate (ROI)9.05%Current Assessed Value: $29,666.00 Loan Amount: $76,000.00 Net Cash Flow per month: $314.08 Interest: 4.88%Net Cash Flow per month per unit: $314.08 Term (yrs): 30Total Rent/Month: $1,350 GROSS SCHEDULED RENTAL INCOME: $16,200.00 Less: Total Annual Debt Service: $(4,826.40)Less: Operating Expenses: $(6,470.63)Less: Vacancy and Credit Losses (7%): $(1,134.00)NET CASH FLOW: 3,769 NET OPERATING INCOME - (NOI): 8,595 INTEREST: 3,680 DEPRECIATION: 3,455 NET INCOME: 1,461 Property Insurance: $1,000.00 Property Management (10%): $1,620.00 Placement Fee(30%): $405.00 Real Estate Taxes (5.06179%) $1,501.63 Repairs and Maintenance (12%) $1,944.00 Services: Snow Removal: 720 Utilities: Electricity: N/A Gas and Oil: N/A Sewer and Water: $30.00/mo Other

Would I be able to obtain tax credit on the mortgage interest? 

I applied for an fha loan through a credit union and they tell me FHA does not quialify for multi residence.

Our credit scores are over 800 and my wife and I make about $134K a year.Can anybody help?

Alternatively, I have owned a separate LLC for 3+ years which could probably qualify for a large enough business line of credit to purchase outright.

But, I don't have to do any of the major upgrades that I was planning (floors, electrical, counters, paint) immediately and can get positive cash flow immediately.If she decides to move on, then I make the improvements and put it back on the market at $900-$950 within 2-3 weeks. and get what I talked about above.So. 

Our financial specialist can help advice you with lenders here in Plano that can help you apply for home equity lines of credit if necessaryhttp://skandiaconstruction.com/f-a-q/https://www.facebook.com/peterjohannesenrippedmeof...And some more http://www.insiderpages.com/b/15257471596/five-sta...I would be very cautious.