You need a downpayment, say 3.5% with FHA, but you also need at least 15k in reserves plus renovation.

It's obviously more important to have more conservative cash reserves when your property is not cash flowing.

When I read the actions, the "DO" it's saying the rate cut's are political in nature.

Maximize cash flow, attend meetups, avoid over-leveraging, and build reserves.

Naturally, your relinquished property/properties must sell before you can take title to the new ones but at least it keeps distance between those time frames.

My understanding is that Encompass doesn’t specifically ask the dreaded student housing question on their app (I certainly have no intention of lying on an app); however, if I’m understanding you correctly, it sounds like regardless they reserve the right to inspect in the first 60 days and cancel if they determine it is a student rental?

If accepted, I have my inspector inspect the property and provide me a report on the state of all systems and structural. then I use this report to build my scope of work and know what repairs need to be made. then I type out this list and solicit bids from 2-3 contractors/GCs/ handymen depending on the nature of the rehab.

I would ensure you have enough saved in reserves to handle down months, furnishing and decorating the entire house, closing costs, etc.

Filled with natural lighting, this single story home features 2 bedrooms and 1 bathroom.

The only defense is saving, reserves, and insurance.