If the well services 15 homes or 25 people then it will be considered a public water supply and need to conform to EPA regulations which are terribly restrictive.  

If the mortgage position you are bidding on us conformed to be junior to a HELOC, you can only estimate the loan balance (unless you have authorization from borrow to obtain actual beneficiary loan statement). 

Follow me:If -  property cannot be financed with a conforming 30-year note unless you take the deed in your own name.And - a 30-year mortgage comes with the lowest payment, and therefore more CF.Then: In order to underwrite the most CF you have to finance for 30 years in your name.However - doing so exposes you to some liability,But - putting the asset into an LLC triggers the DOS,Then - you have to decide whether the CF out-ways the risk of exposure.It is always better to have the LLC.

You need to understand what the property is legally zoned for and if it's zoned for 4 and being marketed as 5, that means there is a non-conforming unit.

If you're looking at a buy and hold strategy, you don't need a portfolio lender; you can go with a conforming conventional mortgage.

While I realize that non-conforming loans can choose their own restrictions here, let's talk about what's most common.Under what circumstances do the seasoning rules apply?

When it comes to apartments, various characteristics of your property and operation may trigger certain coverage requirements (likely at your lender's request) such as:Boiler & Machinery -- when steam boilers/pressure vessels are presentWorkers Comp -- if employed directly by ownershipLaw & Ordinance -- if property is a non-conforming use (though typically grandfathered in)Flood -- if in a FEMA designated flood zoneThere are plenty of others that are unique to certain properties.

It was a non-conforming use in a SF zoning. 

With standard conforming loans you would normally have a 30 year loan. 

If it were me, after a week I would send a certified letter to the sellers POA letting them know you stand ready to close in conformance with the contract.