Some folks in my circle also invest in other places like San Antonio or Phoenix, capitalizing on strong demand for workforce housing..

It's affordable and offers strong cash flow potential.

Freddie has similar intricacies, but also does not require a two year history of receipt; https://guide.freddiemac.com/app/guide/section/5306.4If you can use the rental income to drive the DTI down so that you can reduce the down payment similar to that of the FHA product, the benefits of the conventional option will outweigh the FHA option, as I'm assuming you have a strong FICO based on rate quoted with no points.  

The property seems to still be holding strong.  750k sq ft of retail space in suburban Cleveland, OH.  

This market now offers not only excellent cash flow but also strong appreciation, creating well-rounded investment opportunities.The 60 strongest housing markets heading into 2025 - Fast Company

Its ironic Brian and I's backgrounds mirror each other ... other than I am about a decade older LOLWe both have strong North bay Ties..

Newer properties, strong rental income, lower vacancy rates.

Stong homes=Strong buyers.   

Most of the easy "lipstick on a pig" transformations are gone - you're often looking at more serious rehabs to make the numbers work.That said, we do have some advantages: strong rental market (lots of students, young professionals), still relatively affordable deals, and good appreciation potential in many neighborhoods.

I book marginal candidates in between strong ones to create a scarcity mentality.