I just know that most federally subsidized loan programs lend to people (humans), not partnerships, LLCs, or corporations. 

Everything is harder and takes longer because the government is involved.

So, in the foreseeable future, every non-government job your tenants have will vanish.

And does your calculation take into consideration the fact that an entire town can burn down, and the only assistance the government will give you is a $700 gift card? 

Than one has to get familiar with the market one is targeting, I get with various government board members and engineers to find receptiveness of such project and if city plan already has a designated area of interest for such, which it often does.

They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.

Subject-to purchases are very enticing, but they are becoming more and more regulated as the federal government has stated that any realtors or closing companies who assist in a FHA, VA or USDA loan subject-to transaction may have their ability to transact these loans revoked for up to a year! 

I was stunned by how much the county government assessed vacant lots for.

Now, courts will provide a check on federal regulators.

It restricts the collector from disclosing the borrower's debt details to anyone except the borrower, their spouse, or their attorney.Gramm-Leach-Bliley Act (GLBA): This federal law mandates financial institutions to protect customer privacy.Fair Credit Reporting Act (FCRA): This law regulates how credit reporting agencies handle borrower information.