We’re being funny because there's still a bit of nuance here.There are strict guidelines and it's sometimes a blurry line between being an RE pro vs not.

The challenge with the FHA guidelines is the self sufficiency test.

You and this private person you met hammer out the details of the loan at the kitchen table so to speak and you seal it with a handshake and your reputation that this Private Person already respects or whomever introduced has vouched for you.But if a man opens a lending company tomorrow with 50 Million of his own capital and he checks in on the HML market to see what it bears and he copies his products and UW guidelines and now is he PML or HML? 

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

@Richard Anderson: You've piqued my interest.Do you happen to know if there are guidelines in the banking industry as to how to handle the Due on Sale Clause when a seller sells on Executory contract to another individual?

I am looking for strategies and or guidelines to follow when it comes to using a MF for house hacking.

I'm not saying this is necessarily the right answer, but I did not really put anything in my lease as far as guidelines for sharing responsibilities of common areas.

I'm not sure if that is because they are considering it lots of little repairs so it doesn't fall within the guide line or what.  

It is very much case-by-case and requires understanding of the current tax regime for personal itemized deductions, as well as gambling on the proposed changes to this regime by the next administration.

A bad broker will try and soak you and will never get back to you and won't be worth a dirty diaper during the process.If you deal with a direct lender 1 on 1 then the processing and handling of the process will be in your lap.Some common questions to ask:1) Have them send you their bridge loan guidelines.