@Alex EvansNo, it's not required.

From what we've read, FHA loans are great for people like us who have limited credit histories and the low money down requirements are awesome.

However, financial freedom is not simply replacing your current income; it requires maintaining your current lifestyle for life.

There's low barrier to entry in terms of effort required to purchase stock and naturally more people are going to do it. 

So, if you are wanting a hard money loan on a new property you are purchasing...then no HML would require a separate HELOC to be paid off. 

There is much more, but Bigger Pockets requires that you initiate by clicking on someone’s name then “connecting”. 

Is the business expected to pass out meds for the residents - and are you required to have medical personnel on staff to do so?

I am interested in LTR with a multi-family property that has a total of 4 or more bedrooms or single family home that has at least 3 bedrooms, purchase price between 160K-230K, and does not require a large rehab. 

Most people start by looking up local STR regulations to understand the permit requirements, if any.

Some banks who originate your real estate debt will require a depository relationship and/or an operating account at the very minimum.