As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

If your using financing the bank requires this.

As of my last update in April 2023, the definition of an accredited investor includes, but is not limited to, the following:Income: Individuals who have had an income of more than $200,000 (or $300,000 together with a spouse) for the past two years and expect the same for the current year.Net Worth: Individuals with a net worth exceeding $1 million, either alone or together with a spouse, excluding the value of the person's primary residence.Insiders: Directors, executive officers, and general partners of the company selling the securities.Professional Experience: Certain professional certifications, designations, or credentials or other credentials issued by an accredited educational institution may allow an individual to be considered accredited.Knowledgeable Employees: In the case of private funds, "knowledgeable employees" of the fund are also considered accredited investors.Institutions: Banks, partnerships, corporations, nonprofits, and trusts with assets exceeding $5 million.By imposing these criteria, Regulation D is meant to ensure that all participants in such an offering are capable of fending for themselves or sustaining the risk of loss, thus requiring less regulatory protection.Under Rule 506(c), it is not enough for an investor to simply claim accredited status.

Banks will provide traditional financing for properties over 50k, assuming the borrower can qualify.

You might want to check with local credit unions or community banks, as they’re often more flexible with second mortgages. 

You may want to find a private lender, sell something, etc…The mortgage lates are going to keep you from any bank/mortgage products

No, banks do not allow a seller held second now a days due to risk and new guide line changes. 

Make sure you are using an FDIC Fullly Delegated Bank. 

@Haiden Welch I'd lean into local banks and credit unions.

Some banks and credit unions are more flexible, especially if you have a strong financial profile.