I have no clue as to how good it is or is not or how much it may cost.although I have been around a lot of different HOW TO guys over the years.. and like anything.. if he sells 100 people on the big dog program 10 or so will take it and run.. 10 or so will muddle the rest will just kind of fade away.you have to look within and see if you are in a position to succeed in real estate... its not as easy as just taking a course and your now going to succeed... real estate generally speaking takes time,, money and some how gain experience. so for sure those that have limited investing capital limited experience.. no real contacts in the industry.. will find it pretty tough to almost no way anything will happen other than get jacked up at the event.Assess were your at personally.. 

I paid 12 months of insurance as a prepaid item during closing.Loses - After entering everything, I showed a total net loss of $3463, and a deductible loss of $450. 

Ideally, I would want to use the money to invest in real estate, but My investment options are more limited than if I had a self-directed IRA.I do not want to invest in stocks.  

If it works out and you get made whole from their renters policy, you should not have a loss history against your homeowners/landlord policy. good luck!

I joined BP because it seems to be an education and mentorship style site.My Full schedule limits the amount of time I can commit to real estate and think I will do best with turnkey rentals.

Trying to buy as an owner occupant, leaving your family behind to live under a separate roof, strains the limits of credulity.

Is there any way I can limit the risk?

FHA has a limit up to 6% of seller concessions based on the sales price or the appraisal price, whichever is lower.Seller concessions have to be approved by the owner because the property has to appraise at the higher value.An example: $100,000 with 1% seller concessions.

Traditional HARP loans were for GSE loans originated prior to May, 2009 and Fannie/Freddie loans were subject to conforming limits so, it wasn't a HARP loan if there was a refi in 2017 and for that amount although, if the loan balance was ten times lower?

@Christine H.To me, it would be a dealbreaker.Buying a multifamily on the basis of price appreciation is speculation.House price could keep rising and you end up making money (recouping some of your loss in the meantime) or there could a downturn and you'll lose more money when you decide to sell in.If you go ahead with the purchase of that property, you would have to feed that property with cash _every_ single month.Any expenses that you failed to initially account for will have to come out of your pocket.Increasing the rent might be difficult especially if you have tenants who have been living in the property who many years, because of the rent control.