Don't let that happen to you.With that in mind, if you qualify for a FHA 5% down loan, why wouldn't you do that now?

Have you tried to qualify for the 10% down second home occupancy loan?  

However, precise execution according to IRS rules and clear documentation in the divorce decree are crucial to ensure it qualifies for tax-free treatment.

A key principal/sponsor is somebody that has the net worth, liquidity, and experience to qualify for a loan. 

An example: If I have 80k from total rents, but my NOI is 47k (no debt), would I qualify for a 350k loan on a condo?  

We don't have the means to buy, we've been working on our debt to improve our scores but not enough to qualify to buy without a co-signer.

Truth be told, your lender should have looked at the property up front to see that it is an illegal triplex zoned as a single family prior to you going under contract and told that you that it wouldn't qualify for conventional financing...

Many will be well educated on their housing options guided by their brands, teams and universities, and are well capitalized and qualified on a short term 3-6-12 month basis, and I actually had a client purchase a newer townhome in Tallahassee for lease to a football player at FSU..Keep in mind the top earning NIL athletes stretch across multiple men's and woman's sports. 

The system is designed this way.For any tax benefit, for instance the STR loophole, you may qualify in one year, not qualify the next year, then qualify again the year after that.

I would recommend finding a Qualified Intermediary here on BP to ask about these detailed questions.