Something else to keep in mind is that if you had previous foundation repairs and those piers fail the foundation company will void the warranty if you don't have sufficient "drainage" away from the foundation.

We failed to close (had to pay 3k to buyer) and are now stuck in limbo.

Where I feel we have risk is if a tenant loses their voucher due to failing to meet the program requirements - due to someone getting a felony or drug charge, failure to report income, failure to meet the recertification appointment, etc.  

It seems like as you go further from Boise/Meridian, the rents drop by a higher percentage than the property prices (this could just be a feeling rather than reality - I haven't done true side-by-side comparisons).I would really like to find a place with a garage for each unit, or at minimum space to build a small shop, so that has narrowed my search some - however, I've been watching listings that do not match that criteria and have still failed to find any.What advice do you have for someone looking to finally move out on their own, that would like to leverage the FHA opportunity to build a future?

Yes hindsight is great and you should have blocked out that info, but he said he would and he failed to do so. 

Either way what you described requires very little money to fix unless the AC unit(s) completely fail which hasn't happened. 

Most first time landlords fail to get educated on local laws and end up violating them as a result.Have your acceptance process figured out ahead of time.

I wanted to say that I am an option trader myself who wasn't very successful and was failing for 8 months straight.

Local laws may dictate differently but in my experience a 30 day notice is required, if he fails to give a written 30 day notice, remind him that he will be responsible for the following months rent.

I fail to see your point, it's Sesame Street math that more interest rate means less profit, yup sure is, and so your ROI utilizing leveraged funds is now only 8% vs 9%......