College students and their parents were constantly visiting the area.2) There are two major hospital systems within a 10-mile radius.

Traditional bank loans might not be in the cards just yet due to your income history, but don't let that stop you.Enter the world of hard money lenders and private money lenders.

Advice is to run the numbers, she what you could get for renting out the spaces and then if not already get pre-approved for a loan (or cash) and submit an offer.

I have enough money saved up to pay for a house using an FHA loan but I feel like I would be screwed if the house was damaged and I had to pay thousands out of pocket to fix it.

You would be paying back the loan via renting and refinancing or selling the property and paying the money back .

The challenge lies in managing renovations and the surprise costs that can come with them over time.New construction, on the other hand, tends to be simpler with less immediate maintenance and potentially better loan rates, but you may have to accept a slightly lower cash flow due to higher purchase prices.In the Atlanta area, there are several hotspots for new builds with great long-term investment potential, as well as older homes you will need to pinpoint which type to best advise here.Hope that helps streamline your decision-making!

Even at 75k you may find yourself spending less over the long term than by getting a loan. 

The other owners would sell you their shares for the value you agree on, and the loan funding (your new debt) would be their proceeds.

The bank wants to know how you will pay back  your loan.  

Do I need an attorney to help structure the loan and details?