Once you have an FHA loan you are not allowed to have another FHA loan unless relocating a great distance for work.Now that you have exhausted your Low Down Payment Options (Portfolio Conventional and FHA Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Keep in mind that this 4 step process I outlined takes time (anywhere from 1 to 10yrs depending on the person) so keep the big picture in mind but don't let it stress you out too much.

Tenant informs me that he and gf have to move out several months early (mental health).

Every wall had to be scrubbed and painted, we had to rip up 90% of the flooring, laid our own tile(which turned out perfect but was one tough exhausting experience), tore down a non-permitted room and built a screened in porch, along with many other small fixes.

I definitely need to switch this mentality when dealing with tenants.

Applying the same mentality, I have been fairly successful in my industry, and would like to see if I can accomplish the same in real estate. 

...my partner and I are new to REI ...or the "flipping" business (8 months) ...however ...not new to the rehabbing aspect ...having over 28+ yrs in the home building/rehabbing business (interior and exterior)...we are finding great properties ...to work on ...with great numbers ...and plenty of 1st position lenders to do so...OUR ISSUE is ...our reserves went into start up costs of the business ...now we are short ...and finding 2nd position lender ...or an actual PML to work with us in TN ...is not impossible ...but seems that way ...we have exhausted several avenues ...just looking for short term 6months-12months (preferred) ...and we can make monthly interest payments ...any suggestions for QUICK FUNDING would be greatly appreciated ...thanks for your time and consideration ...blessings                                                  ...Kelly                                                                

But right now I was thinking about using a turn key service somewhere in the Midwest to get the ball rolling for the time being and see how it goes.....I have been looking at Ohio cash flow, but the bottom line is my wife and I don't have the time or mental injury after the last two years of total stress to dea with ALL the intricacies of flipping or managing ourselves....  

Total in house process.Not all investors can "in house" the whole process which is a HUGE advantage.I agree using self directed funds IS a great vehicle, (which I am currently utilizing for our acquisitions) but before folks go running off to convert their life savings, here's a few things that caught my attention about this situation.My post is really for the newer people to really pause for a moment before going "all in".Flipping can bury you if you have a "pie in the sky mentality" and your only trade experience is a slew of "Flip this house" re-runs.He's been doing it for 40 years.

It's not THAT bad, it's just worse than the rest of Colorado so its reputation keeps people away.I've bought five houses here so far, and they're making money.There are problems with drugs, and mental illness also, more so than other places.

Include *at least* these for now and use the Biggerpockets buy and hold calculator for help (or other online property analysis tool): this list is not exhaustive - just a place to start.