Seller financed 6-unit MFH.... selected "Other"

Whoever that was, they should be prevented from selecting the next tenant.

I had selected a property, gotten approved for a specialty loan (I have no income but didn't want to put husband on the loan), had an inspection done, and was waiting to sign the loan documents.  

All condos have condo fees and those fees vary widely between associations. they can completely wipe out your cashflow, but you can include them in your analysis and potentially find some that are profitable in a city area. finally, you need to vet the association, which is difficult to do since they arent a public entity and don't publish their financial health. old buildings with expensive deferred repairs can cause assessments to skyrocket and owners will be on the hook for the cost.

If you like the hands-on stuff or don't mind managing a team of several different people, all of whom need a cut of the deal, then building a team does, of course, require that you pick your market first :) If you don't want to (or don't have the time/energy to) put in that level of labor, or are just looking for passive REI income that doesn't require you to do much at all (after your initial due diligence in selecting a provider to work with, of course) then you can go the turnkey route and focus your energy on finding a long-term partner that you trust and that has ROI numbers that add up (and which they are willing to break down and explain to you in a clear, concise way so you know exactly where your money is going). 

What's so funny is if you read the HUB ruling you find that all felons are to be given a mile wide variance EXCEPT if you were convicted of manufacture/distribution of drugs.

What many do not realize, is that loan originators also make a selection for how title will be held when you refinance too (because there is a new deed of trust, etc). 

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The newer properties and neighborhoods tend to bring A paper tenants but smaller returns, while the older neighborhoods and older apartment buildings offer higher returns but also come with a more selective screening process for tenants.

I will be very diligent with my selection process