It seems unfair but they are trying to encourage home ownership rather than an investor buying the property. 

I want to create a business - I seek to be more of an entrepreneur than an investor. 

Most likely, I'll just disappear once I realize I can't get rich overnight, leaving you exhausted and irritated.

Also, the rent is usually less than a SFR but the same or a little more than an apartment.One of our duplexes has a firewall and separate utilities, so although both units are currently deeded together, we have the option of separating them and selling them off individually in the future if we wanted to.

"A cash offer from an investor or non-profit organization to purchase an REO property shall not be considered a better offer if the offer is the same or a lesser amount than an offer by an owner-occupant who is purchasing the property with cash or with financing."

If you're builder you probably have a lower cost structure than an investor hiring a contractor.

If you find really good deals 40-50 cents on the dollar then its a great way to purchase homes when all other options have been exhausted.

Now, some banks still take longer than an investor will believe is reasonable to respond to an offer, but most of them have gotten it down to 2 weeks or less.

However I was able to find two houses less than an hour away that can cash flow even with more expensive type of Commercial Mortgage as I bought them in LLC.

@Cindy Nguyen I agree with the above responses, does not sound like a great house for rental purposes, a couple of other items you have to factor in is the cost of the refinance and your insurance premium would be higher for an investment property rather than an owner occupied home.