If it's an alt doc, small balance commercial loan then this could have been possible. 

Leak detector water shut offs can save a lot of damage that would not get reported.11.

I got a job at Sears and bought a fixer-upper with a no-doc loan -- 0% down, 7% interest only 5/1ARM 30y first and 13% fixed second with a 15 year balloon.   

I would also qualify it on no damages that exceed the security deposit.Hopefully you have detailed pictures before renting, and is a good reason for regular inspections to check that HVAC and other equipment is functioning properly, and allows inspection for damage from leaking roofs, etc., as well as tenant damage.

you don't want to be left with a leak from her friend who fixed it.

-We are dealing with a mysterious leak at the midterm rental that is tying up a lot of our time, energy, and money.

So my main intent in securing the property sooner would NOT be to remove the existing tenants, but rather to:1) Prevent damage to the home caused by a leaking roof or any other little surprises. 

Had to fix a plumbing leak and replace subflooring in kitchen.

Hi Eric,Was this loan a full-doc loan based on your yearly income?

Yes you definitely have many options for purchase with LLC using no income and no doc .