I can't really speak to your financing out of a FHA loan, but I'm curious as to what you feel has attributed to the large amount of appreciation ($111K if we use the low number of $480K) over such a short period of time, since you've only invested $20K since purchase on renovations?

My parents taught me that lesson at the age of 12 and I attribute any success I've had in life to that principal first and foremost.

To double your money or achieve anywhere near the return you speak of will take some form of work on your part. whether it is flipping property, buying and selling stock or developing property part of the return is attributed to your skill and effort.

Melisa Ramos is marketing a property that has many of the attribute but not all that Nick Sidoti talks about. http://www.biggerpockets.com/forums/58/topics/73671-36k-rehabbed-3-2-1500-sqft-in-atlanta-gaI brought the topic to the first page so you can find it.I have not attended any of Nick Sodoti's seminars but understand many of his concepts. the proof is in the pudding as they say, so anyone who has experience with this process is welcome to explain it to us.

Brick or Block come to mind as exterior attributes.

Do I attribute their success to their degree?

I attribute that the service that I provide for the 42 apartments I currently manage.

When you combine the two, the lender is then required to break out what is a fair amount that should be attributed for rents and what should be attributed toward the purchase.

It can also be attributed to the fact that we are communicating online versus in person.

Not sure I totally agree with ScottFicek's analogy about hillbillies, as I'm from the South and hillbillies/rednecks can be found 25 miles outside of any major city in the U.S, but I do understand and agree with his logic.......the term "slumlord" should definitely be attributed to the person's lack of care about the tenants & property and not the low income housing they are investing in.