We have done our fair share of research and did not want to get stuck in analysis paralysis so I am glad we are under way on our first deal, but it is nerve-wracking nonetheless and I am sure we are hit some learning speed bumps.One question I am struggling with is how i should factor in holding costs (conventional loan + utilities, insurance, tax, etc.)

But even with the wins out there, I wouldn't want to be in a position where that was the last 50 of the 750 hours I needed - even if you argue it and win, the time, aggravation, and professional fees will not be immaterial - something both you and the professional you work with would need to be comfortable with when examining your own facts and circumstances, and deciding what position to take.

Just saying, if anyone messes up, you could have a CA finance examiner and a HUD IG type talking to the judge and my bet is placed with the HUD IG!

Completion of satisfactory due diligence search and examinations.

There were other reasons for me to walk...all involved me getting the return on time and money I require, but, and this should be stressed, it's a Federal program and could have been modified to your benefit since I examined it. 

Every city's program is different, but the one in Los Angeles is excellent....I couldn't do without it.Also, one thing you want to keep in mind.... even if you rent to a non-Section 8 tenant and something bad happens, one of the things that will be examined is whether your unit is up to code. 

I'm finding this all very nerve-wracking a newbie.

And before they left she said it was really nice NOT to have a TV, because her boyfriend paid more attention to her. ( I laughed inside and they gave me a great review).Examine other listings in your area.

I would like to get this taken care of, because it's incredibly taxing financially when I have to carry these business expenses myself.Thanks,Nick Impossible to give a quality answer without examining the Operating Agreement and without being well versed on LLC and partnership laws and case history in Texas.  

Loans are made with the right of set off, the only way to get past bank examiners over 80% LTV without PMI or an insured loan on RE.