Long term bet on Wichita urban core redevelopment.

You'll find your very motivated to learn what is most important when you already have money at stake.You've already started to narrow down your list to exactly what you need to do to get started.1) Get pre-qualified with a lender.2) Decide if 20% or 3% loan are your best bet. 

@Chris Scales Your best bet is to go down to the city and talk to the planning department.

I live in a MSA of several million people and I bet it’s less then 10 people who are serious cash buyers, who always close and they know exactly what they want.These people are who you need to find and get to understand what they want and where they want it.

But if a listing just comes right out and states "no FHA" I would bet that it is something more on the serious end of the spectrum.On the other hand, you MIGHT be able to use the FHA with 203K option...the fixer-upper version of the FHA....something to look into....

But your best bet may be to go full term.

I'd be willing to bet that people were saying something like that in 1919!

I would bet that something is going on that they are not telling you.  

So if you can qualify without any kind of income, that would be your best bet. 

If you start over with an inspection now, well, bet the units are a total disaster and mess with long term tenants.