I have no experience with flips or BRRRs and don't want to use all my equity for low cash flow right now either.

RE investing is varied and you'll find some things that are of no interest to you and others that are amazingly appealing.

No, no, forget about trying to work it out nicely.

The problem is in a lot of those cases there is no potential to cash flow unless you are putting 30-40% down.

It is 2,016 square feet, and of course, there is no mortgage on the house.

Sometimes I get told no it doesn't match, other times I have just had it approved no problem. 

Getting into the story behind this one..This deal was sourced from a large corporate wholesaler (no names) Originally listed as 179,999 as a "wholetail" deal with an "ARV" of 250,000 I walked the house and estimated it needed little in terms of repairs, though I knew a realistic ARV was between 215-230 However, there were tenants in the house without a lease agreement with the current landlord.

If the double needs updating and you are handy, you can force appreciate the unit you are living in while paying no or almost no money for the home as your renter covers most of your expenses.By the time you are done renovating + 3-5 years give or take you have a forced appreciated property. 

So long as no active STR's within a certain distance can obtain a permit.

Additionally, both the FHA and VA loan are for primary residence purchases only, so no flip/investment purchases.