From everything I've read so far my best bet would be to find and buy a duplex and rent half and live in half.

Do you always use 60% costs for calculating NOI?

I think your best bet is to talk with an attorney.

Sounds like your best bet is a long term renter though - just be sure to do your due dilligence on them!

If the appraisal is accurate, your best bet is selling the house and paying off your investors.

I calculated the P&I to be $546.68, so does your higher mortgage amount include PMI?

I'll bet any real estate attorney there will be friendly, they get even friendlier when you pay them.If you mean those that advise you not to do some screwy, dumb. stupid, hair-brained, unconventional, guruized, scamming or illegal activity, they aren't being unfriendly, to the contrary, they are probably being very friendly keeping you out of trouble you can't afford to get into.Call Realtors in the area and get references for a good RE attorney, see who the Board of Realtors uses or has used, ask your lender for the names of three good ones.Forget about trying to get a good attorney to advise you to do things you shouldn't be, adapt your methods and strategies to their advice!

Landlords are having alot of problems with broken pipes and other property problems right now.I'll make a bet with you, call in sick.

Spoke down to those attending, if u did not bring marker-highlighter-calculator-snacks- Why would you come unprepared-Do you go to work unprepared What ??

FHA is not great but right now the bet way to get into a home with only 3.5% down.