I ask because I'm thinking ahead about what underwriting will want for a newly employed person for an FHA 3.5% down loan on multifamily (you're trying to house hack, yes?).

Then the money is secure but not spent in advance in case of emergency and the tenant must vacate - extended out of the area medical treatment, care of inlaws or locates employment. 

(I know, but it happens)Analyze their credit report and if you feel comfortable, do a background check and make sure their criminal history checks out.Another key factor is employment history.

The advantages of Denton County are:1) Lower Price Points than Collin County (Plano Area)2) Close proximity just west of all the private sector "employment boom" of Collin County3) Safety of Denton County4) Closer proximity to DFW International Airport when connecting 35E/Sam Rayburn Tollway5) Northwest of Dallas County and directly north of resources in the Tarrant County Mid-Cities (Colleyville, Grapevine, and Southlake).  6) Many of the purchase prices in Collin County (Plano) are higher due to the hype, but the profit margins are much slimmer when rehabbing properties due to the builds being fairly new.   

Can you get employment for double per hour (or higher) than you would pay the contractor to do all your work?

I know this is old... but...FHA is an owner occupant loan, yes... but only have to live there for 1 year.You just can't use another FHA loan while one is already in place, unless you have some sort of employment re-location letter.Doesn't mean an FHA loan can't be in place after 1 year seasoning period...

I also recommend EPLI (employment practices insurance) because it is very cheap relative to your exposure as an employer.  3.

I want something certainIf people know up front they're going to lose their earnest money and they have twelve-months to get on the job of getting financingHave a mortgage broker prequalify the buyer before they move in increases the chances of them getting the mortgageYou can get more money by doing lease purchase as a seller without the risk of dealing with owner financing and getting an attorney to forecloseI think if your buyers agents would work with self-employed people that have large down payments meaning more than 3% for FHA and help them build a credit rating, they would have a good portion of their business doing well; they may even be able to get the commission upfront and wait for the lease purchase to finishAs sellers we all want top price and net the most amount of money, and It generally costs 10% to sell with real estate commissions, closing costs, and sellers' concessionsIf you help somebody buy the property, you can net more money using lease purchase

I'm employed now for 8yrs and I just started my paint business.

One way will be wages, subject to self employment tax.