It's taken a lot of cash so I've sold 2 along the way to keep paying for the rehabs.My experience has been that the quality of the product will determine the qualify of tenant you attract. 

Buying the cheapest fixtures/appliances/products.

Those are only issues to people, so if the property is owned by a company the financing options are commercial lenders, which also have good loan products, but currently around 4.5-6% interest for a 25 year loan, while a Conventional loan is around 3%.  

If so, you can refinance out of the FHA product into a conventional, and use FHA again (if you're willing to relocate).

@Kendric Ng I would call around to well known LOCAL banks and take their investment bankers to lunch or coffee and explain your goals and get their product offerings.

But other than those few with a finger on the pulse of rising foreclosures or the preponderance of risky mortgage products, the only real evidence to support a bubble burst was a long steady march up in values.

FHA/PMI products), as we're only trying to put about 5% down to use the excess cash for rehab. 

We can easily determine the additional cost of electricity, gas, water usage, and consumables (paper towels, laundry detergent, cleaning products, etc.). 

Looking to purchase Clayton or Champion Modular (Tiny House) for use in Florida - any insight/experience with modular housing in Florida would be much appreciated.Financing is available directly by some manufacturers (Clayton) and by 3rd Parties for other manufacturers products (Champion).There is additional benefit in not having to pull building permits in Florida if modular product is 399 SF or less (I believe)Here is LINK of Champion products fitting this model: https://www.championhomes.com/...

@Charles J ReidHave you talked to a lender about what loan product is best for you?