I've qualified for a 3.5% FHA loan, and have questions about what I can deduct.  

He would have to live in the Duplex or Triplex to be eligible for one year.    

Do you have a CPA that can help you get the most of your deductions?

The VA does have some inspection requirements that a property must meet before being eligible for the VA to back the loan.

@Robert Lockwood there is no effect on your ability to take the depreciation deduction in an LLC. 

Since this deal took no skin off my back, my plan for the next year is to grab another 4-12 unit with either seller or traditional financing next Jan/Feb, then when I'm eligible to use my VA loan again in May '16, I'll refi (or not) and use my remaining ~$160k or so in eligibility to purchase another 2-4 unit to live in for 0 down.

Plus the interest is tax deductible. 

Remember the government wants you to be a home owner too so don’t be afraid to lean on them for help.The good news is however once you’ve paid off 20% of your original loan and it’s been at least 5 years, then this PMI in no longer deducted.

USDA (we are only looking at USDA eligible properties) usually requires 3 years, but we've been told since the BK was due to hardship (wife was out of work for 18 months), we were never late on the mortgage, and we currently have 680 FICO scores that getting a waiver would be no issue.  

If you are eligible for the owner occupied legal residence special assessment or the agricultural use special assessment and fail to file the proper application, your tax liability may be over three times higher because it will be classified at the other real property rate."