Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.This is also a great place to meet people that can be assets to your business.

Listen to the podcasts and read the articles on getting started.

If not, I could maybe offer more specific guidance if I understand more about your plan.You should also read the many articles on dealing with property managers on the BP site, and talk to a lot of local landlords. 

In any event, here's an article on the topic that should answer your questions: How Many People Can Get an FHA Loan Together?

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Amazing resource and very nice articles and podcasts.

Article linked

Welcome to BiggerPockets, @Joshua Welch.Brandon Turner wrote an awesome article for our blog called The Real Estate Agent's Ultimate Guide to Working with Investors. 

This article seems to explain what they did and it seems to ride the line of legal/moral. http://www.creonline.com/beat-the-due-on-sale-clau...However, this was not made clear to us and again we were told that the mortgage would be out of our name within 4 months not 4 years.  

I've read a ton of Elizabeth Colegrove's articles to learn more about the VA process and any input would be appreciated.