We made a lot of mistakes but the grace of God was truly sufficient . 

We now just put another house under contract to move into and we have just been told that we don't have sufficient enough reason to buy another primary residence and that it has NOT been a FULL 12 months.

This might be to do a larger, more efficient and profitable deal, than just one investor could take down themselves.It could also to bring in a person/company that has a specific skill set that you or your company do not posses that will add value to the project.Larger projects more frequently end up being structured as a joint venture as there is typically a real estate operator who has a deal and the ability to execute but without the sufficient capital.

On a 3-4 unit purchase using FHA loans, you'll have to pass the 'self sufficiency' test but it's completely doable. 

That is why it is important to have cash reserves sufficient to weather the next recession when it does inevitably come.

The industry is pretty tough if you don't have sufficient learning materials and if you are not an initiator.

I am not saying that I had a bad experience, just that their company has sufficient red flags for me to not entertain them as a source of funds at this time.

This option might make better sense if you’re in a more expensive metro where RV rent to value ratios are lower and DSCR is a less viable product to execute with.The more attractive rate option will be to use conventional financing if have sufficient income to document however you wont be able to close into a LLC upon closing day.

I didn’t use a formula or anything to come up with that figure, I just think that would be sufficient to demo and clean up the debris of about any 1-4 unit building. 

This helps circumvent the self sufficiency test on FHA and make 3-4 units more attainable and more valueable.