Typically, as Greg H. pointed out, FNMA will agree to a concession or a repair (you don't want them to repair if you have the choice). 

All of three of us have good to excellent credit, and one of my friends has what I consider to be significant savings through his parents - he has around a half million in savings.

Congratulations on making an excellent decision, I love real estate, especially RE investing, so welcome to our side (evil laugh inserted)!

Their meetings in Falls Church and Reston are both excellent.

For this particular property, that price and rent ratio is excellent.  

Now when that happens, you have a choice violate Federal law or don't do the deal.If you accept a "down payment", you're now offering "financing" as defined by federal law.

BP Nation,Does anyone have an investment property analysis tool to evaluate deals? A tool more advanced and a little more robust. I already have the one from BP. Looking to leverage other tools as well.Thanks BP Natio...

They will be an excellent resource for contract real estate work, which may include the following activities: bird dogging, referring buyers, showing properties, open houses, broker price opinions, etc.Great Handyman --Someone to take care of the little things that come up on a daily basis.

We lost our original crew and then got caught up on schedule timelines and made some bad choices within our hiring process.

Thank you Carlos...I've been looking up other posts that suggest just having excellent insurance on each residential property (which is what I have).