team up with a REALTOR he will guide you step by step with the purchase yes there is the time waiting for the bank, some times there are two or more lenders so be prepared.
your best bet is to lease or rent with the option to buy from a seller that is not loosing his property to a bank you will find that many are relocating due to job change
you already know that you credit is bad you need to start fixing it call a mortgage company a loan officer will tell you what to do.good luck
Iyou are new as a landlord a condo is easy to manage if it is located in a well manage condo association, the down side is if the building have many empty units and they are not collecting any fees the association will not be able to provide any services.
the first step in the buying process is to get a pre-approval letter from the bank or mortgage company if you are approved you are qualify to buy.
contact a real estate agent he can send you a link to search for properties in your area
your answer is that your agent find you properties that qualify for fha loan
decide were in the state you want your site then the best way is to contact a realtor to find it for you.
Good location and good rental income makes a multi-familya solid investment and will hold the value better than a sigle familyhome