I picked up a set of very nice cabinets that my uncle just took out of a kitchen that was only 7 years old that are going to almost perfectly fit in the space i have to work with. 

Sure, I'll represent clients - but I turn a lot down (refer it out), and I pick and choose who I'm going to work with. 

Freddie:  Based on what I determined from the census tract lookup and program guidelines, the property is located in a 'high cost area', so my income does fall below the upper threshold.  

The answer has nothing to do with your expense or anything other than the IRS rules that determine whether you have an employee or a contractor.Read this. 

If you're looking for rentals, there are several that will fund your purchase as a bridge loan so you can still pick up properties quickly, then you'd refinance with a bank.Best of Luck!

So I'm looking for some advice, settle in this is a long one.I was lucky to pick up two house in Grand Rapids a few years ago before prices shot through the roofHouse 1 has a 43k note and could be sold for 120K (I've lived in it more than two years with in a 5 year period so I can get out of the capital gains tax) leaving 77K in equality, but the house is currently nets $700 a month in rent.House 2 is right next door, has a 53k Note on it and could sell for 110k, leaving me with 45k after capital gains tax.

I would pick block and brick over any other exteriors, also built within the last 50 years.

My main question is when we start a fund, how should we determine how much capital we will want to raise for that fund?

Flood insurance is property-specific depending on the flood zone the property is in and the property's elevation as determined by a surveyor on an elevation certificate.

I ask because right now I go online and just pick a home off zillo ect and then play with the bp tool calculators but it doesn't feel like I'm really running numbers because I may not have the purchase price, arv, ect.