Stated income, no document loans, 580 credit scores, no income or employment or asset verification, etc. were collectively the primary factor behind the great recession - which ruined the lives of tens of millions of people, including my own.I should say though that FHA loans are nowhere near as popular as they used to be, most likely thanks to their excessive insurance premiums.

That way your excess income on capital gains could go back into it as a contribution.

This property has tons of excess land and paved parking, and just anecdotally it would seem possible to extend either one of the structures to add 1-2 additional units.  

I try to get people to send me any excess HELOC funds, but it hasn't happened so farbut seriouslyWe use our HELOC to purchase and renovate, then pay it off on a flip or refinance after reno for a hold.

That doesn't mean you have to be rude to walk away, it's all about valuing your time and price and not spending excess time in a back and forth when you know your numbers.

Just paying it down with excess cash from our w-2 incomes and should be to zero in 3-4 years.

Having a signed agreement for each property stating responsibilities and budget, along with the agreement if we go over the budget, we're both responsible for 50% of excess capitol injection. 

OR, do I just make the minimum payment on the student loans and save the remainder of my excess money towards the down payment?

I'm only trying to hold him liable for excessive overages.

I left that market due to excessive vacancies (circa 2005).