The reason FHA does is becaues it was designed for primary residences only and wanted to make sure the program wasnt being used by borrowers to rapidly acquire real estate portfolios (which many on this site are doing). 

Here's a new spin from Yahoo on Huntsville.The Southern City That's Becoming the Next NashvilleKey Takeaways👉Huntsville, Alabama is emerging as a new city to watch in the South due to its rapid growth, strong economy, and investment in the music scene.

Third, since you want to rapidly scale, how will financing the gap affect your scale timeline? 

The macroeconomics are strong here with rapid population growth, job growth, and major companies like Intel, Amazon, Google, Facebook, Honda, Microsoft, and LG expanding or moving in, which drives long-term rental demand and appreciation potential.

Small, incremental price drops are not a very good strategy (in my market).

From there every 20 point increment affect pricing differently.

Rental Property Investor from Jacksonville, FLPREVIOUS POSTWhy I sold Cleveland.If you're a real estate podcast junkie like me, you definitely have noticed the clear shift towards real estate syndication in the multi-family space over the last couple of years especially.As deals became harder to find in single family and smaller multis across much of the desirable markets,the allure of pooling investor funds to acquire larger assets became a sort of self-fulfilling prophecy.Books that were mostly hurriedly written flooded the market pimping the upsides of this strategy.The argument for was simple and convincing:it is better to own 1% of a large deal than 0% of no deal.Personally,I could not help but notice that the popularity of the idea coincided with the rise of real estate crowdfunding.The likes of Realty Shares and Realty Mogul raised a bajillion dollars practically overnight making it very easy for everyday real estate aficionados to own small bites of a mega deal in rural Tennessee at the click of a mouse.A few of my friends experimented with the crowd-funding route, tossing $5000 into this debt offer and $10,000 into that equity offering.These punts yielded mixed results anecdotally, as an equal number seemed to have great experiences to share as did absolute nightmares.To be fair, no real estate niche is 100% fail-safe or iron clad.Money has been lost in a large single family portfolio as well as a personally purchased medium sized apartment complex.It is also certainly true that in the end, every investor will run out of money to invest in more properties if they decide to go it alone trying to rapidly scale up their portfolio, and real estate is most assuredly a team sport at all levels.

Fannie Mae+1Talk to a mortgage broker who knows multifamily owner-occupant loans — product availability varies by lender and changes rapidly.4) California vs out-of-state — decision factorsPros staying in CA: easier property management (you live on site), faster hands-on control, potential appreciation in some areas.Pros going out of state: more cashflow and lower entry prices in many Midwest/Southern markets — you’ll trade more travel/remote management for higher yields.Consider: rental market demand, vacancy rates, property taxes, landlord-friendly laws, and ability to travel/manage repairs.

From there every 20 point increment affect pricing differently.

The city is experiencing rapid population growth, job growth, and major developments from companies like Intel, Amazon, Google, Facebook, Honda, Microsoft, and LG, which keeps rental demand high and strengthens your long-term equity.