However if you are going to place a large premium on reliability and timeliness, and your credit/income/assets are not 100% on point across the board, then it follows that FHA may ("may," not "is") actually be a good fit.- FHA loans almost always have a built-in automatic refi because the PMI lasts for the life of the loan regardless of your future equity position. 

I called the County and there seem to be not permits for the unfinished large room, bathroom and laundry room on the ground level, but for a new slab and underground plumbing from 2005.We are thinking of buying the house and creating a studio on the ground floor and renting it out to a tenant.We have never dealt with permits, and we would probably hire a licensed contractor for the electricity, plumbing, heating, floors, walls and windows, but would do the rest ourselves. 

I had this large kitchen painted and re-faced (new doors and drawer fonts) and 2 bathroom vanities too, for about 3k.

I just don't see any way to make any immediate money in CA without a large (> $100k) investment, where I could get started in a smaller market immediately.

We wrote off business laptop, printer, travel to see properties, and meals.

I've given you a format that you were only able to answer anecdotally based on neighbors remarks, not independent research.Please follow my PETIO format and do your homework first. 

Who are the large majority of patrons on Castro St in Mountain View during happy hour?

As you and many others have mentioned it seems to be a large risk and I am trying to do everything I can to limit that risk, but at the end of the day a bad HOA is a deal breaker for me.

Play within your bank roll.If you have to get too creative then you probably aren't prepared for that level of play.Master your current game and build a large enough bank roll so you can tip toe to the next level. 

After a large amount of contributions I assume...