You can do well for 300k in Memphis and if you are moving in, you can utilize an FHA loan to save cash for repairs you might need to do.

I’m curious if one even needs an agent in order to utilize the loan from the mortgage company.

It's common to use properties in your portfolio as stepping stones and trading them out after a period of time utilizing great tools such as the 1031 exchange.

The benefits of downsizing are: Saving Money - Moving into a smaller home typically means having a lower monthly payment and lower utility, insurance, and maintenance costs.

So I've been thinking of ways to creatively and legally utilize an FHA loan to fund a multifamily property. 

This route just doesn't allow you to split the utilities, and you have to conform to occupancy limits for the whole house, instead of the units individually.

@Kerry Baird @Bill P. as landlords/RE owners, if you were to be approached by someone looking to utilize the Airbnb/VRBO models in one of your units, what would be the criteria that would convince you to lease to that individual vs. doing it yourself, or leasing to a traditional tenant?

I don't know how the handled it but they put the utilities into my name the next day. 

If I update the lease can I increase the rent since I pay the utilities?

My current area is terrible when it comes to real estate investment and looking for any cash flow positiveness.Also since I can only buy a single property per year as a primary resident, by utilizing 10% downpayment, I'd like to maximize as much cashflow as positive rather than just ROI.