In my own research I have found that you can refinance from one FHA loan t another and even better they will give you a 85% LTV rate on the cash out refinance, however there is a catch.

The catch with it is that you have to live in the property for 5 years for the grant to be "free money."

Keep a close eye on common maintenance costs and develop your HOA budget to hand off to owners when you are finished14.

You can catch me by email: CLHGEnterprises[at]gmail[dot]com

Im planning on moving out after I hit my year in the property, and then the numbers will greatly improve.No issues living next to tenants, It helps, as I can keep a closer eye on the property.

It does allow them to be an extra set of eyes if your coverage changes/lapses for any reason as @Robert Melcher touched on.  

I will certainly keep an eye out for any MF homes that I come by.

I'm keeping an eye out for Fishers Landing and Hockinson. 

hey old friendGlad to hear from youGrrrrr @stick shiftSo far I have to say I am glad that I did the extrasBut to answer your questionEvery time I fill a vacancy i ask mirror mirror on the wall who has the fairest apartment of them all Usually the answer is "You do you do by far it is the fairest in all the land"But lately others are quickly catching upAnd now that my renovations are four years old I am getting answers There is an abode over yonder that has a nicer bathroom than you It seems my saving grace is my washer dryer But I'mStill in the top ranks for the price point In fact I just recently remodeled an apartment and it had lots of bells and whistles.Have I had perfect tenants?

I have found a few properties that work according to my numbers, but would like another set of eyes to analyze the deal just in case.