Keep us updated on your venture! 

Welcome to the world of REI and good luck in all your future REI ventures!

Now that you have exhausted your Low Down Payment Options (Portfolio-Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Be alert, if you time it right you might be able to get down payment assistance/grants (I got $5,000 from a local program and used it to buy my interest rate down to 3.125% which is way below typical market rates for a Duplex).

BP is your next stop to your real estate adventure!

I am an entrepreneur and Venture Capitalist, so not new to investing but new to Real Estate.

If you waived the home inspection, the buck stops with you.Either way,  the cost is minor and not worth your time/money pursuing in court...On the other hand,  if you did have home inspection,  you might be able to go after the inspector possibly? 

I look forward to this new business venture!

Venture capitalists compete on expertise and adding value above and beyond the money they invest.  

Without much money of your own, you'll definitely need a capital partner to do a joint venture project wth to start building your own capital.

Aaaand....this is why my company stopped taking investor work, except for my own houses.Reno costs what it costs.