They are better bets for a Non FHA conforming loan since they usually dont sell you loan .

Is my best bet to partner with someone?

Biggerpockets for giving me a platform to expand        my investing knowledge and network connections.My point here : it takes a village to grow in life and business <- team work

Without getting into too much detail about all the different business platforms and methods of monetization utilized, the underlying factors are common in that there are multiple financial and institutional requirements that need to be fulfilled to be directly endorsed by Fannie Mae, Freddie Mac and Ginnie Mae. 

@Bryan Collins  it sounds like your best bet is to contact a real estate agent that you know and trust to run comps and get a solid ARV.

When someone has been in the property 7 years you can bet that there will be some rehab if they move.

Sexy return for the effort, you bet!

Basically with the numbers you have provided you are betting on appreciation.  

Probably your best bet is to chat it up with local investors who have been in the area for years and know what makes the market tick.

If you secured another cash flowing property with the equity from the first, you'd be doubling down on that bet while hedging at the same time (cash flow).Either way you win, unless you can find a better return on your investment by selling and re-investing your tax free capital gains elsewhere, OR... the US economy could collapse due to the financial ineptitude/corruption taking place w/in the beltway and it could be an all out Zombie Apocalypse headed your way!