(auburn hills area) I obviously don't want the $5 houses, those area scary places and I value my life.

Come on people, measuring appreciation from a once in a life time market bottom in 2009-11 is misleading to a new investor.  

I intend on pursuing real estate for life and maybe getting my mba later on.With this new found free time I'm going to have soon I decided to give myself a project/goal/ ultimatum.

Let's look at the rates and differences and what I'm trying to make my decision on:FHA 3.75% interest3.5% down.PMI through the life of the loan.Higher insurance premiums.A little higher mortgage payment.Conventional fixed rate4.25%5% down.PMI drops at 20% loan to value.Lower insurance (me and the lender calculated nearly $100 month difference roughly)Slightly lower mortgage payment.Now with this information I was provided the conventional is a no brainer as over the long term and beginning costs are less. 5% down is my max for down payment I can do in order to cover all other fees to seal the deal.

@Trevor Fritz , A good rule of thumb to follow in real estate investing, as in life.

Studied in  psychology ,was on the football team Went to conference championship in 2007 . that was my old life ..now I'm currently into real estate , I have several properties that I have placed in trust.

"Roof at end of useful life, consult roofer."

Well I appreciate your insults, I'll take them under hard consideration /s I'm not the police, nor do I have any interest in monitoring how people live their life.

I've lived in Cincinnati for the majority of my life but always a little North of the city.

Welcome2nd and 3rd chances are what life is all about.My suggestion is to listen to podasts under the " learn " tab