@James Joseph is there a specific way about doing that or is it through networking like is outlined in the Guide? 

Find a spreadsheet that you can use to bring to bankers that will outline your deal.

Definitely check state laws that will outline what the tenant's responsibilities are.

Once you have this outlined, it'll help you pick the neighborhoods and types of properties that help fulfill your objectives.I invest in Philly, and have a few rental properties.  

This is putting me above budget.I took out a rehab loan to flip the house so I'm in a bind to raise needed funds to complete the work.Any funding ideas besides taking out line of credit?

This document outlines the agreements between the members and sets out stautory requirements as well, if there is a form, most of it might be blank.....might as well do the whole thing.You know the saying, you get what you pay for.

All of that would be outlined in a standard buyer broker contract.I agree with Michael, you need to have a team in place that you feel you can trust and is working in your best interest.

So much for the rules outlined by the bank.Also, by having a stable owner living in the property (instead of renting/flipping), it stabilizes the area for other homeowners. 

I have seen these get done with a JV or on a very strong ARV appraisal if you have a well outlined, line item pro forma construction budget and very good credentials. 

It sounds scary, but if you just follow the FHA rules outlined in that article you will be fine.