Assuming you are just saving it like you're supposed to?

Assuming all of those are in order, you have a solid shot of getting approved for a loan.The only issue I see is the fact that FHA is supposed to be primary and when you're getting a 4 plex, it's not usually the case.

My deposits have been of 1k and 9k so I suppose I could increase that more so it looks better.

College Park area where a large new city development is supposed to be happening, 30331 where you're currently looking, Lawrenceville, Rex, a ton.

I suppose this book is not what influenced me, but it has helped a lot in educating myself, narrowing down my interests in RE, and putting together a plan moving forward in REI. 

That’s the point of an owner occupied loan.You are going to have a tough time competing against cash offers on properties with supposed 12% return on day 1.

I'm sure I can find someone- my husband works as a commercial lender in a bank- do you suppose I could use a promissory note from a lender?

I suppose if you were getting enough cash flow from the second property, this could justify the risk but even so it seems pretty risky.

I have to let some people down for pulling out of this deal which is supposed to close next week.

@Jacob Sampson I suppose I could squeeze a few more drops, I do have a second and third child.