I'm in my last steps to lock up financing (conventional) on my first investment property - final inspection was this morning and am discussing options with my lender.  

Also, I've heard of HomePossible and HomeReady conventional programs, and I believe HomeReady you can own other real estate and still do a low down payment program, but I'm not sure if that's only for single family homes only.  

So I decided to make it a blog post so it can reach more people--free of charge!

Conventional?

If you find a home in the Midwest that is cheap enough for you to save 20% for a down payment instead of 3.5% you could get a conventional loan and not have to wait. 

Find a realtor that you like and they will find tenants, do the background check, etc. with no cost to you (typically charge the tenants a 1-month fee).

I am just double-checking other options. 3- Based on my calculations so far, the damage and charges due to cleaning including vertical blinds, wall and carpet cleaning exceeds their security deposit amount.

I have no debt and probably enough savings to use a 20% down conventional mortgage.

The charges for preparing and posting notice, filing for court date, etc are all part of tenant financial responsibility as per lease.Be fair but firm and treat EVERYONE equally, regardless of stories/excuses they try to provide. 

Architect's fee is much higher than what they've charged for remodels.