So be sure to speak with qualified tax expert and understand the impact of it before deciding to move forward. 

In today's complex world you will turn off more people that have money than those looking who might not be qualified at that moment.  

However it is our understanding you can only have one outstanding USDA loan at a time (we're aren't relocating a great distance).Question - Can my wife utilize our combined income and/or a cosigner to qualify for a USDA loan solely in her name given that I already have a USDA loan by myself?

Since you are planning on selling to a low income family you may get the attention of the CFPB if that family stops paying on the note down the road and claims you didn't qualify them properly.

Then you take a morgage on the property to pay off the loan.In both situation; you'll need to make sure you qualify for the new mortgage amount.

If a property is listed as Uninsured, then this means that the property will NOT qualify  for any type of repair financing ( 203K ) ? 

@Doug KeefeHello from the Big Island ;-)That line means that CMHC will allow an LTV of 85% of the {appraised} value of the building or 100% of the construction cost (for new buildings) whichever is lower.It's basically saying if you spend $1,000,000.00 to build a 12-unit building, but it appraises for $800K in the present market, that CMHC will insure a loan principal up to 680K {provided the deal qualifies for the 85% LTV ... many only qualify for 75 - 80%}.Conversely, if you built a 12-unit building at a cost of 600K, but it appraised at 800K, CMHC would only insure a loan principal up to 600K.

If you are unable to qualify for an FHA loan, I'd suggest a co-applicant (parent, friend, other investor) or searching for a seller financing.Good luck.

You need to have the right mindset, be willing to do work and go through our screening process in order to qualify to work with us.For all the agents on here, understand that I have been a certified Continuing Education Instructor in NY, California, Texas and Florida.

Thanks @Brian GibbonsAn elderly lady owned a farm in the city, she kept cattle to have it qualify for taxes as agriculture, residential taxes would have been a killer.