Refinancing is a no go for many reasons (non owner occupied interest rates, could be a non-conforming condo, closing costs, not enough equity etc.)

Details that make this deal a little more complicated:  This park is a non-conforming park in an area zoned, "General Business" with the future use listed as, "Major Business/Retail."  

Hi everyone,I've been recently growing my knowledge on the BRRRR method and am quite intrigued -- I'd actually entered escrow on a deal before researching it more...but wanted to get your thoughts on plumbing and whether issues that arise during inspection related to non-conforming stacks/cast iron replacement are dealbreakers.  

Chicago Cost, non conforming unit.600 s.f. runs for about $15K - $20K.

or are you still waiting on conformation of sale?

Now waiting for conformation of sale so I can pay and record the deed. should happen within the next 30 days..

Hi @Steve Theobald,If  you're having trouble going conforming on these try Washington Federal.

If you were acting as a residential mortgage broker who had a correspondent agreement with a bank and had warehouse lines of credit from a banking institution then you would need to make sure your conventional/fha/va/etc loans conformed to that lender's warehouse line with you so you could sell the loan back to the bank.  

For the most part with conforming loans, banks don't analyze the difference between a 32% and 41% DTI unless you have other risky attributes to your loan.

If the property needs rehabbing/repair, then often you are not going to be able to use a conforming loan.