You will not have appropriate coverage if you use those policies.There are specific insurance programs for flipping. 

Are there affiliate programs for wholesalers?

Hey @Matt Soffer lets chat.

We'd manage the deal & offer to liquidate in 5 years (wife's retirement) so if you know of someone, I'd love to chat. 

Lawrence,With your credit score, for a low down payment program you should be looking at a conventional 97% LTV program, preferably either HomeReady or Home Possible as they have better mortgage insurance rates as well as interest rates. 

This is the bank I worked for, and we were constantly kicking contractors off the program for not ensuring the people creating the loan were actually authorized to do so.I'd say it can be a good investment if it's something that your market can support, but in general think of it like a pool.

Several years ago Orientals where driving the West Coast markets for totally different reasons: to get a green card, there is a program where you can get one if you invest a certain amount into real estate.

If you click on the company link in @John Warren signature there is a document which is called "financial terms" and it breaks down the differences between 3.5% and 5% programs including fees and loan limits

I currently have 2 section 8 properties with great tenants but the program sucks. 

Portfolio lender, easy to chat with.