They clear the house as meeting FHA guidelines.

If you are charging yourself a markup you may owe taxes on that income.The $20k in renovations are capitalized and depreciated in accordance with IRS guidelines. 

So a bit of a gamble there As both of you mentioned, looks like the "sweet spot" is indeed the $300K mark.

Very useful products indeed for getting properties as 2% down, but the FHA also have strict guidelines in terms of the rehab estimation and every inspector or appraiser has to be used through the FHA.

In a fun movie, "... they're more like guidelines" - - amen in Calif.  

This fellow lost all the money he saved up paying double rent while hoping for approval.The reason he paid double rent is because he had to have a place lined up before he could get approval to move out of the halfway house... so he took a gamble and paid the rent during the interim in the hopes that approval would go through.

Sometimes also called "conforming" loans, meaning they conform to the underwriting guidelines of those agencies.   

Having a license can sometimes be considered a hindrance by some investors because of the disclosures and guidelines. 

FHA guidelines require you to establish occupancy within 60 days of buying the home.

Basic guidelines - Northwest Oklahoma City, roughly Council to Walker, 10th to 50th, will go a bit further for the right deal. 900 sf or larger, min 2 bed, condition must be accurately reflected in price.