SDR, can’t you buy a few houses in Temecula with no-money down loans? If you would have to lie on the application to get the best loan, then just find a predatory mortgage broker who will lie and cheat for you, and just sign your name. Apparently signing a loan application incurs no responsibility. If the houses make money for you, keep ’em. If they start to lose money for you, walk away.

PR if you do it right I don’t see why not! I will say that I play hockey with a buddy who has an FHA loan and he has owned his place a few years now. He actually said he has been contacted twice by an FHA inspector to verify he still maintains the home as an owner occupied home. I have never heard this from anyone else though.