What I'm trying to say is to be very careful owning only 4 units a gentleman that has been buying apartments for about 25 years and owning about 5,000 units and is a multimillionaire has taught me a few things with his many videos on YouTube and being on with Josh and Brandon a couple times and doing many public speeches and predicting he will make about 150 million this year might qualify him as knowing what he's doing. 

If you want to invest, do it after you secure your home.

For example, if you read the annual report of American Homes 4 Rent, the largest single family public REIT in the country, you will notice in the management discussion and analysis section that they mention they don't reach scale until they own hundreds or even thousands of units in one given city.

If you do not have a track record then you may need to figure out what you can do to help provide a little more security. 

No car.. don't bother.. unless you become a commercial agent that works in a certain sector with a large firm in a large urban area where you can manage walking or taking efficient public transit.. 

Defrauding the government= fines and prisonFHA is securing the loan...not originating it.

So here's a rough number breakdown. purchase $1,500,000Loan Amount 1,300,000Rehab+holding+closing costs $115,000ARV 1,900,000new Loan (20 year, 6.25, 5 year)- $1,560,000Cashout portion- $260,000Cashout- FFFF (friends, family, facebook friends)= 10,000Money in deal = 45,000Rental Side of Things (by month)Current Income- 27,000/m (Proforma is 31,500 since I had to rush rent out)Expenses-  (Utilities, Taxes, 25% Vacancy/Management/CAPEX, insurance, etc)- 12,500/mDebt- 11,400/mNOI- 3100/mSomething like that at leastFor the other questions that may pop up:I self manageI doubled my portfolio in one dealI was my own GC for the projectI still have a full time job in securities tradingI worked 110 weeks for 2 months straightI am burnt outI hit a lot of roadblocks including getting sued, vandalized, robbed, and threatenedI had a lot of physical blackouts and emotional breakdownsMy outlook in general on people is definitely more negative However I am also ready to move onThis post was very much to speak on an experience and tell a story. 

Always use a warranty deed to avoid any issues with the tittle insurance when transferring tittle.Also, Ive recently learned Fannie Mae allows transfer of tittle to an LLC without accelerating the note...Fannie updated their servicing guide to state:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:· A transfer of the property to a limited liability company (LLC), provided that § the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).

Actual Lenders Title Insurance states;CONTINUATION OF INSURANCEThe coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.

Public records are online in most states....google up the county Property Appraiser, Land Tecords, whatever it is called there.