This will allow you to acquire more rental units and also being able to use the vacated unit rents at 75% to help your debt to income ratio DTI.There is a FHA 100 mile rule if you do plan on using FHA on your 2nd house hack.

However I did some research myself on crime rates, and from 3 different sites, they all suggest that crime is rather high in that area:https://www.neighborhoodscout.com/tn/memphis/crimehttps://crimegrade.org/safest-places-in-memphis-tn/https://www.memphisdailynews.com/CrimeReport.aspxChecking city-data.com, the average salary for that median household income is around 39k.Also, the property value is listed at 145k, which seems like it is on the lower end.

As long as you're generating any type of income (haying, grazing, or whatever) and holding the land over a year I don't see any developer issue for you. 

Have higher rents and higher income tenants .

Credit score requirementJob/income requirementDescription of yourself and other tenantsTo maximize your reach and find potential tenants, utilize various platforms, including:FacebookCraigslistApartments.comZillowRoomsterRoommate.comResponding to InquiriesOnce you create an awesome listing you will start to get inquiries.

Failure to repay the loan according to the plan's requirements could result in penalties and tax consequences.Tax Implications: While 401(k) loans are generally not subject to income tax or early withdrawal penalties, there can be tax implications if the loan is not repaid on time or if your husband defaults on the loan.

There’s a few options:1. conventional loan: this assumes your debt to income could support the mortgages2. commercial loans: these would likely be similar to what you are in now.

Additionally, basing the loan amount on past below-market rents seems unfair, as lenders should consider current market value and potential rental income.

This includes the rental income, PM fee, any repairs, etc.

In my experience working with clients that have come to me *after* trying the online services, they're usually left wanting more, such as: - market knowledge on what to negotiate (not just pricing)- how to leverage online marketing to generate buzz in order to have a line at the open house- creating a bidding war between interested buyers Again, it boils down to your personal preference but it's worth a try as you say - since you're already an attorney, that's one less thing you have to pay for.