I've got to get my DTI income down after my last closing, but am in the same boat exploring other mortgage lending products. 

There's always a pro/con list to everything but FHA loans are a great loan product to consider BUT they are not the only "first time homebuyer" loans out there.  

Try to not only stay productive but also efficient. what i mean by that is dont focus to much on the crap that doesn't get you anywhere.  

FNMA HomeStyle is a renovation product that is investor friendly for SFRs.Post-closing, the funds are disbursed to your contractors as the work is completed and confirmed to be up to both the standards of the loan program, and your standards. 

Hi @Mark MatosIt depends on the sales price of the final product, and that depends on where exactly the lot is. 21 units on 5 acres is really low density, so it would also depend on the neighborhood plan and whether you can rezone it.

FHA does allow 3.5% on their renovation product (that product is a little challenging) and the conventional reno loan is 5% on a Single-Family home.  

Properties listed for sale in the six months preceding the disbursement date of the new mortgage loan are limited to 70% LTV, CLTV, and HCLTV ratios (or less if mandated by the specific product, occupancy, or property type – for example, 65% for manufactured homes)"... https://www.fanniemae.com/content/guide/selling/b2...Is the higher 75% LTV ratios that you mentioned only referring to SEASONED (SFR) refis?

I know interest on a car loan is relatively cheap (assuming your credit is decent) and that HELOC is a variable product.

The finished product will be to sell retail.

@Justin Myers If you can be more specific regarding what area or areas, of Real Estate Investing, you wish to pursue, you will receive more productive and tangible feedback that will permit you, to move forward having a certain level of confidence and certainty.