Be sure to talk to them about 3% down conventional loans, because FHA loans are notoriously difficult, and sellers will prefer a conventional over an FHA, because the FHA appraisal requires the seller to fix little things like peeling paint, broken window panes, loose handrails, etc. while conventionals typically do not.Some borrowers are approved for a higher loan amount through FHA than conventional, but I believe the MIP is generally higher.Also, this is something your agent should be helping you with.

Does anyone have any tips to do or not to do in this process, or maybe something to include in the lease agreement that I might not think of?

If you have any tips, helpful comments, or are interested in knowing more let me know.Have a great day.Bruce

Alternately tell your new tenants it is available November 1st but you will be in doing some painting and repair work after they move in.

Jay, many thanks for the tips on access to credit.

Upfront I definitely need to paint, change out a couple light fixtures, and will be doing all the work ourselves, but other than that it is move in ready.

My goal is to buy my first deal in my early 20s, probably by house hacking, then house hack more and more properties as well as buy multi family properties.I’m still relatively new and I’m keen to learn more, I’m asking for tips from anyone about getting started and also stories about your first investments would also be useful.

@Jared Skov I'm in the South.  3 units need carpet and and all 4 could use fresh paint. 

This did save money, but it added a lot of time because I bought clearance cabinets, so then had to drive around to make a full set, then I had to paint them...I would have saved time and effort by just buying RTA or mid range cabinets.Time is Money!

It will also need a new exterior paint job and furnace soon, and the plumbing is galvanized so it will eventually fail too.