Start by having an open conversation with them.

The conversation, as well as this decision, left me wondering how many insureds are denied policy coverage and cannot afford to bring a suit against the insurer and are unable to recover their loss.

Just frustrating since I was not there and didn't agree to that term and if I saw it would have canceled the closing, and I think the loan officer could have assumed as much since much of our phone conversations surrounded investing and rentals. 

Some portfolio or private lenders may waive this rule, so it’s worth exploring.While waiting for the 6 months, finalize renovations, stabilize the property with tenants, and ensure all paperwork (leases, receipts) is organized.

The agreement stipulates:"The owners agree, that no water shall be used for commercial purpose, but only for their private domestic use including vegetable gardens and livestock maintenance."

I had a response on a previous post this year about what the private lending restrictions will be here --> https://www.biggerpockets.com/forums/22/topics/1174919-bough...Here's a re-post of that information though:------------------------------------I do have a DSCR lender who can assist with a limited recourse loan that will close in the name of a self-directed IRA.

You basically echoed my internal conversation.

Look for a private money lender that will finance some or all of the deal.5.

Back 25 years ago I was named in two lawsuits solely because the plaintiff attorneys found out I was raising capital for a new investment fund, and they knew it would be cheaper for me to pay them off then to have to disclose the lawsuit in the Private Placement Memorandum.  

Here's what I can share about it....To become a private money lender...