@Dylan Barnard CLR is a good product (as others have mentioned).

I've seen a lot of flippers appear not to know either and end up trying to sell half-a$$ed properties by cutting all sorts of corner and putting an inferior product on the market because they're trying to cut on costs and preserve what little profit they have left.As for rentals, they have been become harder to cash-flow, but you can still find some deals in the surrounding areas of Phoenix if you're willing to invest there.If you don't know about construction costs, I'd suggest you find out quickly and staying on budget for renovations is key.

It allows you to put 5% down, whereas the minimum for a conventional product is 15% (I'm not a lender, but that's the last I was told by my go to lender).

Commute, school district, and you'll get more in Everett in terms of house, yard, and product vintage/rehab for the price.

Ashton, Here is what I will do,I will purchase the property at $700k to $710k (or shift the closing cost to seller) with new Fannie Mae product with 5% down or ~$36k (pull from HELOC) - owner occupancy for a year.

The final product will be so much better.This goes back to my first point.

In connected manner if part of your strategy is to reap equitable gains generally speaking a SFH investment is your best vehicle to reap such as a MFH has a primary valuation based upon revenue production which rents do not tend to swing as significantly as home values can in a supply demand situation or in a re-class situation such as flips, done correctly, focus upon. 

I was working as a contractor, a product supplier and a publican in my spare time, and I thought, "I don't have enough on".

Currently, this program has been put on hold until we see how government backed mortgages play out through all the forbearance and unemployment issues.Does anyone know of another product similar to the FHA option to be able to buy a lot and build with one close and either low down payment or no payments til construction finishes.

Certain banks have products that convert a construction loan into a long-term fixed.