Im open to any options and would like to hear about various methods. 

Is it a cosmetic renovation or a full renovation including roof , electrical, plumbing HVAC and foundation if needed.

We are looking to renovate a very old 2100 sq ft house that needs some cosmetic work, a newer 4-unit that also needs cosmetic work, and a SFR that needs a total gut renovation - it is only wood & wires (+ plumbing). let me know!

A simple method is to account for the roof, hvac, and hot water tank.

The cost of disposal will skyrocket in the future, so extending the life of existing disposal methods is lower cost in the long run. 

If on the other-hand, you use traditional syndication methods, To raise capital on a deal this size. 

Everything in the home is fully upgraded with the past 4 years (plumbing, electrical, roof, foundation waterproofing/draining, new municipal sewer and water connection, etc.)We could expect about $5,000 yearly residual initially until paid off and then we could expect rent of around $825 and rising from that point forward.

My idea was to but this first home, using FHA while here save up all my money and pay down the loan to the point i do not have to pay PMI, and get a second home the following year, Using the same method.

At a minimum, you'll need to take care of any structural, mechanical and plumbing work the home may need.

At the time, my husband and I were still running a residential plumbing company.