setting up teams and working out these in the last minute is challenging.

Currently, I am closing on a house in the Fort Polk area in which I am utilizing an FHA loan, and it will be a live in flip where I’ll do the majority of the work.

My wife and I own five rental properties. 

@Ned Carey, what a joke this redevelopment is in the city, its called get the out of state suckers/uneducated investors, get them to put up all the money to redevelop, raise taxes, five years down the line developers are out of business, city takes back properties, amazing.

This is obviously a little simplistic as it doesn't account for utilities, repairs or capEx.But look at it this way: you have to pay to live somewhere. 

Looking to buy a primary home in the area on the prospect of area developing and also utilizing large lot for expansion/ADUs in the future.

But if you only pay the minimum payments on the existing loan and the seller second then after 10 years you still have 18 more years on the first and five on the second. 

I was planning to do an "as is" contract with the tenant but would be willing to spend a thousand dollars for minimal needs but certainly not four or five thousand for bugus FHA demands.

But you have to qualify for Medicaid, and they look at all assets, including any disposed of in the five years before the qualification. 

I’ve had success with buying and selling my own five (5) home over the years and found a real passion for general contracting, design and seeing a vision behind the initial disaster.