Financing options do exist: hard money loans, renovation loans, and some traditional mortgages can be used on distressed properties if criteria are met.

Thank you.I've personally bought and sold over 15 properties, was a Realtor in Texas for 5 years, and a loan originator for almost 10.

This is a large community and someone might give you some insights on the lender or the loan officer.  

Any good resources for learning about hard money loans?

Several have mentioned utilizing low down payment second home loans for qualifying.

Most agency loans will expressly forbid such an arrangement, so if they found out, the odds of having the loan called would be very high. 

You may not be able to easily separate that property from the loan to make that happen. 4.

Premiums in Iowa, Minnesota, Montana, Utah, and Washington jumped by more than 20 percent.The insurance situation is especially serious in California and Florida.In 2023, around 7 percent of realtors saw deals fall through due to insurance issues, with the share jumping to 13 percent last year as of October, according the California Association of Realtors.

The only way for you to understand the situation and evaluate your options is to ask a lot of questions.  

Rates tend to be 25 to 50 basis points above commercial (5+ unit) apartment building loans, and 50-100 basis points above residential (1-4 unit) loans.