HUD will offer $100 down program on FHA loans occasionally and in targeted areasThe program is for FHA loans and owner occupants only 

It's $6500 to buy into that program, then 4.5% points on every deal and 15% down.Pros to LOC:- Access to funds immediately, can buy 4 or more projects by the time the 2 above get done.Cons:- large upfront cost- with 15% down on every deal, cash will start to get tight until I refinance all of themShould I be patient and wait for A and B to start rolling - or buy into the LOC????

If you are looking for a buy and hold, consider a first time home buyer program for your state.

@Jeff Dulla - Is this the HELP program?  

I plan on purchasing it with an FHA 3.5% down with a down payment assistance program for a rate of 4.5% APR to have a mortgage roughly about $1,000.

Most require 25% down, but there are some really good niche programs out there nowadays. 

Most portfolio lending programs that I have run across will only refi 65-75% of FMV as determined by an appraisal.

Mortgage brokers are familiar with a variety of different loan programs and sometimes have connections to private lenders as well.

PML and HML are two different types of loans/lending programs.

If you are going to call realtors, call them, introduce yourself, tell them you want to send them some information on loan programs that may help them increase business.