No small hill to climb starting a mortgage/note brokerage.

I run into this issue frequently where NJ investors are looking into out of state thinking it is cheaper, that's not always the case. 

I am moving out of a home that was my primary residence, and it is becoming a rental. the mortgage is currently in my name. 

I believe they changed the guidelines years ago on the amount of seller assist you can receive on an FHA loan, so I’d look into that with your mortgage company before making an offer, but definitely use that to your advantage when writing an offer!

We just have to hope mortgage rates decline a little bit in 2025 while the supply does not drop so that we can have more home sales in 2025 compared to 2024.

I've seen everything from a lender using the highest middle mortgage FICO score of the LLC members (as long as the guarantor owns at least 20% of the LLC).

Well there's a reason they screen their borrowers, secure their loans with a first position trust deed/mortgage and charge a small fortune to make such a loan.

Very pretty small house with a great mortgage payment Lessons learned?

While your value added is in the physical aspect of real estate (building SFR, developing subdivisions, etc) our emphasis is on deal structuring (loan modification, wrap mortgages, interest rate arbitration, real property consolidation, tenant repositioning, etc.). 

Some old school sellers, like many in here have said, don't even want to waste time waiting for a mortgage and buyers who traditionally get cold feet right after inspection with a big loan.