If he has a $5MM loan in place, what was that used for / is it coming due/ was it short term/ etc.?

@Brandon Robertson Interesting situation. 

Personally, I'd cash-out refinance into a 30 or 15 year loan.

If you are looking to buy in PA, its possible you can qualify for PHA KFIT program that gives you a 5% closing cost forgivable loan.

FHA loans follow very strict guidelines when it comes to property condition.

They are just going to use their 2nd VA loan to buy their next one while this one is tied up. 

At best you’ll be able to buy, through “creative” finance break even cash flow situations, which at best may begin modest positive cash flow in 3 or more years. 

Hard money loan that covered 100% of rehab and 90% of purchase.

If they can afford to stay, chances are they need to refinance and get the X name off the loan.   

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