The higher your score, the better your rate and I doubt they mention the self sustainability requirement for FHA when it comes to 3 and 4 units until you get pretty far into the transaction.You need a decent broker that can help you navigate the mortgage waters; not a bank or a clearinghouse because they don't have the breadth of products you need.  

There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

However, if you're specifically set on one of those markets I'd recommend Kansas City - landlord friendly state, lower property taxes, increasing population and diverse economy, a good supply of potential rentals that product good cash flow with a decent chance of future appreciation.

Make sure you check out all that this site has to offer.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

Make sure you check out all that this site has to offer.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you are looking to connect with other members near you, or want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users

Separating electrical will be a different process and cost than separating heating where you might need to run separate natural gas lines and purchase individual furnaces.

Hey everyone I believe I have had a recommendation for a HELOC with CACU here in Kansas City and I think they have a great product but it is not I/O payments.

I've been debating to turning it into condos, but don't have much insight into establishing an HOA or anything of that nature

What i'm struggling with is whether it's worth trying to do a non-recourse portfolio rental loan that combines all these into one loan. advantages are mainly that i get to wipe off the recourse nature off the record, can structure a 10-year IO period and ARM after that; however, the cost to complete is meaningful - 1% origination fee, $2-4k closing fees, new title policies cost of $15k or so, higher coupons of 4.3% +/-, prepay penalties and non-assumable, probably more difficult to selloff properties individually.

If you have a high income, you might qualify for some loan products since you have a good FICO score.