I toured the property when they were home and they asked me how the living situation was gonna work, which I explained that my loan said that I had to live on the property for a year, and the tenant next door was on a year lease & he was month to month... so he was going to have to leave.

So I did a 3-2-1 buydown and secured a 2.875% interest loan for the first year of the loan, and it will gradually go up a percent each year until it hits my rate of 5.875%!

And could even get a second home loan if doing traditional financing.

My first loans were at 9% .. 

Credit Unions are pretty great, as in my experience, commercial loan renewals tend to be automatic.

Quote from @Timothy Hero: I've brokered over 325 DSCR loans.

@James JeffersonHi James,To buy out the property you need to probably apply for a loan through any lender.  

My belief is that you will be challenged to realize a 10% savings loan n your first effort and there is some chance it will cost more than if you used a GC.  

Hi Dean - we had access to a DSCR product until a couple weeks ago - it's currently paused, per my conversation with one of the loan brokers I work with. 

M my loan never closed.