You can get a conventional Fannie Mae loan for 5% down with far less scrutiny and fees.

Purchase price: $85,000 Cash invested: $37,000 Now: STR AirbnbThis property was bought SUB2 from a wholesaler with $34k down/entry fee.

FHA has a standard 1.75% funding fee and permanent mortgage insurance.

Their fees to do this is you pay them 3% of the ARV on the buy and 3% of the ARV on the sell to them (you have to let them represent you on the buy and sell but when you buy, their commission is still based on the ARV).This might be a great way to learn and make money at the same time. 

You may save some money on the fees in the beginning.

Ask what the average price per square foot houses sell at in those areas, or what a multifamily property sells for.

.: On Martel's FlipSystem site, it says people make $10,000 to $20,000 per deal after expenses.

Crime rates per capita here are pretty exaggerated as a huge chunk of crimes are committed by folks from out of town. 

Its now a cash flowing $300ish per month which is nice. 

There has been no tax benefits per se.