I have one home that I currently reside in.

I have started renovations (minimal needed, basically paint) and plan to make the property my primary residence and rent the property at fair market value after my hold period expires (2018).

My name is Carol Roberts and I reside in Central Florida.  

If you can qualify for conventional (even with less than 20%), you can buy out the PMI on a conventional.  

We bought our primary residence, which is in the 'dales of Windsor Park, just on the other side of Bartholomew Park, in 2006 before any of that stuff was there.

Higher rated borrowers qualify for more products and then its just a numbers game. 

I highly recommend attending these sales, learning how they work, and networking with other investors.There are definitely deals to be had at private auctions because the auction company pre-qualifies all sellers and they will not be wasting their time with sellers who set unrealistic reserves. 

I don't qualify for standard financing so this feels like it's my only option.

The issues I have come across are:1) Finding a MFH in an area I can live (close to mine and gf's work) in order to qualify for an FHA loan has been pretty rough.

I have found that there are alot of non-qualified tenants in NWI looking for properties (I know because I have 3 up for rent right now).