@Athita Covington you could have the tenant and seller sign an Estoppel Certificate where they agree that all rents are paid  up and security deposit as well.

They probably have some web crawler that finds listing through search engines using keywords.

I know I wasted 10 years not doing my research or buying what I should have bought to diversify but I guess I thought I would never have to worry about living without the security of those sources of income.

I view them as a credit card secured by your house. 

Does anybody know how strict this is and if there is consequences for renting out a property after securing it through FHA?

I've called all of my local banks and most are just offering 80-90% LTV of a secured asset.  

I had one gal that did nothing but split payments every month we usually had about 200 loans on the books at anyone time.In Oregon fractionalized loans are a security so you need the security docs.. which as stated is a whole nother level of pain.I liked the bank LOC the best although the PG is required.. so if thats a non starter for you.. check out if you can fractionalize the debt obligation.. and then have some very good language in your debt instruments about how you handle a foreclosure.. our bank LOCs as stated above were all 5 million and up.. we could go 75% ARV on our loans bank then would loan 80% of what we loaned..

I have a colleague at work that did the same thing with taking out the 401k loanI’m not a financial expert, but I think it’s a good idea for someone that’s younger, has decent job security, and is planning on continuing to work at the same job for the next 5 years.

I caught an intruder in my STR with a security camera that sends its video to my phone. 

Also, never again to simply rent out to the first person that hands you your first month's rent + security deposit in cash.