Split the down payment and make two smaller down payments on two separate houses, a year apart (I think that's the limitation on FHA loans).

The issue is that if they technically meet our criteria, how do I handle the other prospective tenants, particularly those who are showing as much interest as they had (and have already given us an application fee, which we've not yet processed credit checks for), and those who responded to my listing saying they were eager for the open house?

I recently purchased a home in a small town within it's city limits.

That in turn limits me to about 1-3 deals a year while I wait for equity to build.

Hello everybody, I'm a total newbieI have done some research but I can't find the answers to my questions about FHA loan, hopefully somebody on BP could help me. 1 - I'm a student, about to graduate in March 2018, wit...

This limits my options significantly.

Problem is that starting out you don’t really know or have access to these deals due to your limited network.

To my knowledge the sellers eviction application died the day the property was sold.

It's easiest for me but there are plenty of other competitors with similar products, for what its worth.I used a commercial loan and an LLC to limit liability. 

The best (IMHO)you can do is seek out a tax and wealth advisor that you can work with so they can better understand your long term preferences as it relates to your estate and then give you advice on sustainable income into retirement (passive and/or retirement accounts), charitable preferences and heirs, if applicable.