So if you provide a good letter of explanation, then you could do more than the 10% as long as it falls within the 50% of the gift funds. 

However, this explanation no longer makes sense when it comes to homes that are much more expensive.

Yes probably. are you capable of giving an explanation to why? 

Here is my last lease option property that I purchased and an explanation of the deal. 

@Cameron Nordin, @Jon Taylor's explanation was spot on. 

His explanation is spot on. 

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Public RecordsWe also obtain data from national databases about evictions, convictions, and sex-offender histories.

This all makes sense and I knew there had to be an explanation.  

I am going to keep the LLC regardless because it helps me to stay more organized in terms of bookkeeping, having separate accounts for business expenses etcI am sorry if my explanation is confusing, its all clear as mudThank you to all who take time to respond

By securing a home now, buyers can build equity while having the flexibility to refinance when rates become more favorable.Your years of experience shine through in this explanation, and I truly appreciate the depth of knowledge you’ve shared.