My budget for this year in cash is $100k that can be used towards downpayment, closing costs, fix small things, property management fees, lender fees etc and rest will be looking for conventional financing as of now.New constructions offer better interest rates, minimal maintenance costs for 2-3 years, and potential for self-management due to higher rents.

We are about to close on our townhome in Atlanta, GA, and the house is already marketed for rent (long-term rental).

I think (emphasis on think) I have found a deal for me but here is my situation: I am a recent college grad with no 2 year income (just yet) and I came across this property inHamilton, NJ, in which i need between 100k - 144k after all costs (rehab, closing, 20% down payment) I do not have this money as a 22 year old, so I naturally wanted to get an FHA loan but the problem is, its a quadplex that has all units occupied, so i cant really live here because there would be no space, unless there is a way around this.

If I could turn this house into an str then that would really help me with lenders in the future as well.We might be able to qualify without a rental but it will be close.

Closing costs?

We offered cash and closed in 20 days.

In TF the wholesaler will actually close on the purchase and immediately resell for a higher price.  

Right now the market I am only has 20% of the usual number of properties for sale so anything close to a deal that comes on it scooped up within 24 hours.

I can't speak for STR as I don't specialize in that but I do have a client with a 5/3.5 STR close to downtown FTL and it is very BUSY so if you have the right type of property and location, you can do well in any market.

Your lucky to have such a close family looking out for one another!