Plus as a first-time investor, I'd be competing with larger investment companies on the same street for a limited college population (they have a similar, rehabbed duplex that's listed for rent online - so 2 units).

Everything is overpriced and I can’t compete with the larger companies making all cash offers 10k over asking.

My first offer came in on day 312 at $100,000 under asking with a list of 10 contingencies that would have cost me an additional $35,000 in repairs, expenses and a no compete clause even though I own the building next door and plan to Airbnb a room out of it.

All 3 are very competent and willing to help new investors. 

Long story short, if you're consistent, competent, and committed, you WILL do well in RE.

Most deals are done sight unseen and there are few players. 

Not all lenders are competent in every loan program out there and even if they can sometimes it's not in their model or advantageous to them to lend on it.There are thousands of loan programs which constantly change in language and ability to acquire.

A competent fha lender should know this, but I believe so. 

For example, with multifamily being so hot, it may be hard to compete on getting the best returns when your back is against the wall on making a decision for a 1031.

Comps are around $90,000 on the low end, all the way up to $125,000  I had a good conversation with a bigger player in the area who purchases houses subject to and then owner finances them to buyers without the credit to get a conventional loan.