Finally, do you see crowdfunding as a method for the residential property buyer to become home owners, or do you see this as more applicable to commercial real estate ventures. 

@Sung Park, very interesting, I will admit that I haven't heard of that product, though it looks like its application is somewhat specific in terms of who or where may qualify.Could one use this product to purchase a 2-4 unit, live there for the required length of time, and then purchase another 2-4 unit using low-down payment FHA financing?

There are plenty of duplex and quads in that downtown area, so may not be a problem but need to see what the zoning and master plan say for the property.For starts, do you think starting with the 1% rule is applicable to such a specialty building?

Do we eliminate the $35 application fee (FABCO check) and cover that ourselves? 

Make sure it doesn't belong to the existing tenant, if you have a lease application with vehicle information.

Keep in mind the title company will not release the funds unless all parties and if applicable agents sign the form

I found using a dremel worked well to grind out a recessed area to place fiberglass tape at cracks. 

@Kevin FelmleeI like Cozy.co because I can market properties using a nice website they create per property, include a link to their application system and get credit and background checks, and collect rent via ACH deposit for free.

I've worked at GoDaddy in Scottsdale AZ for 14 years in a variety of technical and management roles, developing small business web applications.

I was looking at this application: http://pulseapp.com/ but am curious if anyone has any input on the subject.Thanks,-Tim