I guess you have to trust them, but you need to know enough to read and understand the investment.In 2009 before the crash, people couldn't find enough TICs to throw money into. 

Short of the NOLA metro area, a massive portion of LA is considered rural enough to be eligible under that program, and has a few extra features that the FHA loans don't, most significantly is 100% finance option (zero down payment), but also can support new builds, such as you picking some land, dropping in septic and well, and then building a new home (or placing a permanently attached mobile), additionally, while there is a PMI requirement, the rate for the PMI is lower than FHA's requirements.Also, check out LHC below, as they may additionally throw in some dollars towards your purchase, regardless of if you use FHA, USDA or Conventional, so you might be able to get them to cover a good chunk or all of your closing costs.

Reason I ask is when I started and even now some properties or deals I find are so cheap or low that it isn't worth their time or they have minimum limits like 30-40k.Saw one for 10k and another for 20k that I would have snapped up if I wasn't in the middle of moving.I started the same way and If I had it to do over again I would have started with a flip or two.

Hang on to it and leverage that cheap HELOC $$$.

This deal is sparking my attention mostly for that, but the offer of a relatively cheap 15k down payment sounds good too.

A 3 BD room Single Family Home with no to minimal HOA fees (For now, I'm kinda ruling our Townhouses/Condos because they always seems to have a high  monthly HOA and there's no control over any special assessment fees they might throw at you).2.

A $5k adjustment for bedroom can be ok if it is a "cheap" property, but on a 6 figure property it doesn't seem to work.Originally posted by @Merritt S.

It was for sale a year ago (for somewhat less money) and they are what they will always be which is cheap, edgy rentals in a C- neighborhood. 

That way i could rent out the additional rooms to cover the majority, if not all of the mortgage, and not feel like I’m throwing away $12,000 a year of my loan money to an apartment.

As of now, cheap rent and saving money.