Many Realtors will suggest purchasing a MFR using a FHA Loan, to reduce your out of pocket money.

I'm also wondering why not many people are suggesting a reduced price. 

Play up the fact that you're a veteran, a teacher, and a new investor and maybe that will work.Also, since you're a veteran, if you have a disability rating from the VA, check with the county assessor because you may be exempt from paying property taxes or at least qualify for a reduced rate.

Maybe, they have liens and judgments against them that by you negotiating you can save a truckload of money.Ex: code enforcement against the property that you can get reduced by bringing the property into compliance.

I owe my knowledge of this site to my mentor, Josh Rogers - a swell guy who has made great life choices with regards to real estate and business in general.Best to all,Ethan Stone

No one with any sense is going to buy or build rental property in California while state lawmakers are proposing to unleash rent control.The conversation alone could reduce the supply of housing.Rent control sounds good if you’re a tenant paying the outrageous rents in Southern California, but rent control is one of the reasons that affordable units have steadily disappeared from the market, year after year, since the late 1970s.I urge you to oppose AB 1506.

While we all need to adhere to NFIP/FEMA guidelines, great agents will help their clients look into methods of reducing premiums with mitigation and other methods.

I have started my analyzing and find that most of the properties pass the rule of thumbs if I use a purchase price reduced far enough below asking price. 

I was under the impression that under the changes effective last September, the gross-up under the FHA guidelines was reduced to 15% under the new FHA Single Family Housing Policy Handbook (excerpt below).  

BE REALISTIC in your analyses and you will reduce the risk of getting in over your head.Dan Williamson