Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Also, worst case scenario is if you leave secure job, and lose your $80k in BRRRR.

The two franchises are nation wide but I would only be operating in my metropolitan area.

If you want to invest, do it after you secure your home.

I'm going to look at a 2014 single wide with 3 beds and 2 baths on a little over an acre to purchase/wholesale.

If you do not have a track record then you may need to figure out what you can do to help provide a little more security. 

I knew nothing whatsoever about buying a house, but this place was a white elephant oddity...bottom floor concrete block, upper floor double wide modular..on a flag pole lot, with no landscaping whatsoever, 6 bedrooms, 4 baths, bad subflooring,  one bedroom had been "converted" to a ...spa? 

Defrauding the government= fines and prisonFHA is securing the loan...not originating it.

So here's a rough number breakdown. purchase $1,500,000Loan Amount 1,300,000Rehab+holding+closing costs $115,000ARV 1,900,000new Loan (20 year, 6.25, 5 year)- $1,560,000Cashout portion- $260,000Cashout- FFFF (friends, family, facebook friends)= 10,000Money in deal = 45,000Rental Side of Things (by month)Current Income- 27,000/m (Proforma is 31,500 since I had to rush rent out)Expenses-  (Utilities, Taxes, 25% Vacancy/Management/CAPEX, insurance, etc)- 12,500/mDebt- 11,400/mNOI- 3100/mSomething like that at leastFor the other questions that may pop up:I self manageI doubled my portfolio in one dealI was my own GC for the projectI still have a full time job in securities tradingI worked 110 weeks for 2 months straightI am burnt outI hit a lot of roadblocks including getting sued, vandalized, robbed, and threatenedI had a lot of physical blackouts and emotional breakdownsMy outlook in general on people is definitely more negative However I am also ready to move onThis post was very much to speak on an experience and tell a story. 

Always use a warranty deed to avoid any issues with the tittle insurance when transferring tittle.Also, Ive recently learned Fannie Mae allows transfer of tittle to an LLC without accelerating the note...Fannie updated their servicing guide to state:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:· A transfer of the property to a limited liability company (LLC), provided that § the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).