You do realize that portfolio lenders want a higher down payment and people go to portfolio lenders once they have exhausted their Fannie/Freddie loans.

A rebuilt 70's trailer is worth more than an 80's trailer (especially one that isn't maintained) to the right person.

Until then I am going to attempt to exhaust all options.Thanks all!

As @Nathan Yaun pointed out, a HELOC is a Home Equity Line Of Credit.Why a line of credit rather than an amortized loan?

I’ve also found, for me, being able to approach owners of properties as a “common joe” rather than an agent or with an agent helps us enter the conversation on similar footing, which seems to help the seller feel more at ease.

There are other options available than an FHA loan, its best you started saving if you plan to buy property.

It's more of a business than an investment. 

@Greg DickersonBoy, managing seperste LLC's sounds exhausting!

We make sure exhaust fans are clean.

Honestly it is exhausting, having to move every 2 to 3 years and you really don't enjoy your "home" because it is usually under construction, in our situation we pay all our houses in cash so when we move in we have no money to start renovating, we fix the house little by little for the next 2 or 3 years using our own income, so when the house is beautiful we only enjoy it for a few day because we put it up for sale as soon as we are done.