If you find a good and solid long term tenant that signs a 5-10 year lease with typical 3% escalation ...

Wow, man that looks like an amazing remodel, solid work. 

I know too many of them who attended every seminar, talked to every CPA and attorney in town, read all the books - yet, they have only done 2 deals in 3 years.Without a solid business plan or, better yet, some early experience under your belt, any conversation you would have with professionals will be very broad and generic.

Only works with solid credit, the PMI carriers currently won't touch this if you're FICO isn't strong.

I would like to build a portfolio of BRRRR properties (SFH or duplexes) in solid B class neighborhoods with good schools and low risk for longterm buy and holds with the possibility of modest future growth (home value & rents). 

SFH condos townhouses are wastes of time .

@Steadman ShortCody sperber is generally considered a waste of time as far as programs go.

I've been analyzing condos in 92102 and believe I can make a 2B/2BA work with an FHA owner occupied loan just so I can get my feet wet with my first deal and stop wasting my money renting.

I would not want you to waste such a large amount on a deal you are not sure of.

PM-ing is a solid business, but if the economy downturns and evictions and vacancies go up, then it'll be a little harder to fill units as a PM.