Putting more down payment is a way you can make the numbers work better but the more you put down the closer you are to conventional financing and thwarting the benefit of low down FHA financing.The SS rule requires that the gross rents of all units even your owner occupied unit X 75% is greater than your monthly PITI (prin/int/tax/ins monthly payment).

To be fair I am a strong applicant as far as low DTI and credit score over 800, but still your rate seems high.

Also, the 40% estimate may be low, as you would increase your gross income by $100K and could easily move tax brackets.

Vince Mack Wholesaling is promoted as low risk / low cost way to make money in real estate but it’s tougher than the gurus make it sound.

Both these are severely low, as there are similar houses on the same street w/ no garage & that still needed work done for 265k.

I'm assuming you have a 5 year agreement with your seller to you though.3 - $500 for a buyer option con. is pretty low. 

When I was driving around it was rough, police were out though a lot but it was rough.And a speculation:1- With the soccer stadium going in near it, the neighborhood's location between the 2 metros, and the low price to enter for young millennial's, do you think this will change the neighborhood?

Do you want the Million dollar homes in addition to the very low end?

That solves the variable interest rate problem and allows you to pay off the HELOC and use it for the next one.In addition, most HELOCs have very low fees.

The lenders will ask all your personal financial data anyway.But to answer your question - get the card that has cash back, no annual fees and low interest rates.