., I would have never figured that out if I had the money to pay someone, but because I had no other choice, I figured out things out and made it happen.

The name can be anything, but check the SOS website for your state prior to filing to ensure it's available by Googling "{state} public entity search" and searching for your top choices to see if they're already taken.

The tenants are most likely on the Section 8 Housing Choice program, which gives them a voucher of a specific amount for their size family and adjusted in relation to their own income.

It's their choice.

Based on my research 30YR Fixed seems to be the best choice than a 7/1 ARM, even though the ARM has a lower rate.  

I would agree that flipping in Newark is a bad choice just because the housing stock is so old and most have not had steady upkeep for 50+ years. 

You can negotiate or modify from there-your choice.

There are two conventional residential single family Investor rehab & purchase loans, called HomeStyle and Choice Renovation.

It's it very important to have adequate reserves, especially in our current market.In summary, the Home Possible mortgage makes more sense for you based on the returns, but if you need/want to keep a higher cash reserve, than the FHA mortgage may be the right choice.

dont give up yet on your 1st choice. finding a duplex is the right choice. you can still land a deal. buying in miami isnt expensive when you consider what the rents are. i own over 200 units and still buy in miami every chance i get.