We had to make some changes to conform to New Hampshire state law, but other items we left in, including a provision in which the tenant agrees to have inspected the unit for mold and holds them liable for any mold damage that occurs during their tenancy.In principle, I think this is a fairly reasonable provision; however, the applicant's co-signer questioned it, stating that:"’I'm not used to seeing the provision that holds the tenant liable for mold damage.

If this is a residential (Fannie Mae conforming) loan, then the $15K would need to be disclosed to the lender and show up on the HUD-1.

Joel is right, the city will dictate what is allowed on that parcel, if you can get a letter from the city statting that residential use is possible and a rebuilt letter (in case of fire) so the residence can be rebuilt and not have to comply with the commercial zonning, only then will you have a (legal - non conforming) parcel.

I also have to conform to all the special requests, and forms that the banks, and listing agents ask me to fill out, just for the privilege of them viewing my offer.

It sounds as if you may be able to include in the scope of work renovations to have the property conform to a single family use or a single family with accessory unit use.

For example, they can run air pressure through a plumbing system and if the system "holds pressure" then it is assumed that it will also hold water.In your situation, if the plumbing system were otherwise conforming to the definitions of habitability, then Fannie Mae would loan on the property.  

For a primary residence with conventional financing or an investment property with conventional financing here are the requirements: Standard Conforming Limit Financing For A Fixed Rate Purchase, Primary properties, Mortgages 1-10; A SFR requires a LTV of 97% (first home only) then 95% A Duplex requires a LTV of 85%A Triplex & Fourplex requires a LTV of 75% (possibly 80% with Freddie Mac - on mortgage #1-6)For A Fixed Rate Purchase, Investment properties, Mortgages 1-6; A SFR requires a LTV of 85%A MFR requires a LTV of 75%For A Fixed Rate Purchase, Investment properties, Mortgages 7-10; A SFR requires a LTV of 85%A MFR requires a LTV of 75%A minimum credit score of 720

or a conforming loan (conventional or other)? 

@Leather Nix  There are folks hiring a RMLO Reg Mortg Loan Originator, to underwrite the OF Owner Financing buyer to CONFORM to the ATR Ability to Repay Rules of Dodd Frank, and enforced by the CFPB Consumer Fin Protection Bureau. 

If you are holding $100,000 or more - that's great - too many investors today are happy to wait for the slow pay-day until property increases in value - not me - when I invest (control properties) - I want immediate cash on cash return of my money - like in 7 weeks.Some ideas: What I do here in Maryland, now for over 40 years, is spend my cash on radio advertisements - the message is simple - Wanted real estate, houses, commercial, lots, land or non-conforming properties.