Hi Everyone, so I have a question and wanted to run it by the group to better understand what needs to be done in this circumstance.

I actually had not thought about that strategy of taking the 30-yr fixed option and paying it off like a 15-yr to allow room for any unplanned circumstances.

Also--I maintain a 3.9 GPA in Biology and intend to do real estate as a second job, so I'm not neglecting school or anything by thinking about this.SPECIFIC QUESTION:I'd like to house hack (until August 2021, then move out and rent) in the area near my college using an FHA loan, but keep getting pre-disqualified due to my low income despite having the sufficient downpayment.

Great inside realizing that I would rather figure out whats missing now than when I have no choice and the circumstances are less than favorable. 

Under normal circumstances, Section 8 tenants here in Montgomery County Ohio, must be given 60 days notice of non-renewal of lease.

If it's in Texas and single-story, a better number is probably $1,500 to $2,000 for the inside and the same for the outside.Obviously, there could be circumstances that are out of the ordinary, but you didn't mention any.

Those types of circumstances should be discussed with an FHA representative and/or your loan officer.

Patience and consistency are your friends in this circumstance in my opinion.

All sellers were selling anywhere near my price range is their neglected and abused houses that despite their equity going up 10%/year still won't put a penny in repairing.

In extreme circumstances, we do not accept rent unless all fees are included.