If it is with HUD, did they foreclose or is HUD servicing the loan? 

Hey Makani, you should check out DSCR loans, which are primarily for investment properties and focus on the property’s income potential rather than your personal income.

The process of buying, getting a loan and settling to closing was extremely smooth.

Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

If you Bank/Lender does not allow it you can refinace the mortgage into a DSCR or true Portfolio loan program. 

@Steve Powers is correct that these were mostly originated as owner occupied loans.

Our area has a good selection of hard money lenders, and every now and then, you might find an owner willing to carry the loan, often at attractive rates.

Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

Hey Mario, We're doing several rehab loans right now...mainly in Pinellas...on Hurricane Milton-damaged homes.