The issue that I am running into is that practically all lenders or banks do not fund loans under $50k.

.#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.

Because there is no income verification requirement for many of these loans, there is no real ability to repay other than rent. 

Currently going through the wealth of information here on the site and practicing deal analysis.  

I agree that letting someone live in a property with fire damage is not best practice.

For example, send them a bill for $50 or return $50.

 also, since all three units our filled right now, would that mess with my ability to get an FHA loan?

Rul. 201416006).In practice, it is important for the QEAA to include all of the details between the exchanging parties and the exchange accommodation party holder.

When all goes well things are good. 10 years ago, Investors enjoyed working with good wholesalers who would actively scout the properties desired and do all of the leg work.Over time, the ability to get involved with little or no skin in the game, the ability to make a lump sum of money quickly, and a plethora of bad information made available by people who were only after the disposable income of those who really did not have enough money to get involved in higher level RE took a good tool and exploited it.Wholesalers exploiting undereducated layman (someone who does this exclusively for a living is operating as an Agent with no licensing issues to restrain them or cause them to disclose expert status), using a lot of really distasteful tactics (like trying to wholesale deals already on the MLS, co wholesaling through a string of folks) and getting greedier and greedier as they went....That's where the stink came from. 

This would then kill your ability to operate as an REI on that homesite.