Also tells me the way to make it legit is to apply for a legal non-conforming, but gives me no indication as to how successful that process might be.Has anyone gone through the process in independence?

You will need to look at what is selling in that area and conform to those standards.

Stuff like non-conforming property like fractured condos.

One of their pitches is to encourage sellers to write conforming notes, and season them, to get the highest value on the resale market.Their advice, which seemed like great advice to pass on:Have the buyer fill out a Fannie Mae form 1003.Check buyer's credit with the buyer's permission.Require minimum 620 credit score.Require buyer to undergo credit repair.

In fact, if it is actually tax free income, on a conforming loan the lender will usually give you a percentage increase in your income i.e. if you get $1,000 per month the lender might count it at $1,250 per month because you don't have to pay taxes on it.

Attic SF isn't going to be 1 for 1 with your 150$/sf as it's unlikely to be conforming heights but it would add value. 9% is pretty high fo seller finance.

These mid and small businesses can't easily pay government imposed fee's and conform to expensive compliance mandates. 

Sure thing, @Logan Turner, happy to help.Many seller financed folks like to see 80% or better LTV (Loan to Value) since this note is considered non-conforming to the majority of the marketplace.Location plays a role in the value in the sense that some states have shorter foreclosure timelines and lower foreclosure costs than others (or a better economy, eviction laws, etc).Best,Dave

He said I would be in the 5.25%, 5 year term range and the loan would be conforming.

Is it possible to do a cash out refinance on a non-conforming property?