Many community banks will give you credit for proforma rents.  

However, there's a loss on the 2023 Tax Returns, and Net Income is $45,000 in 2022 (Client has lots of writeoffs) What loans could I use that only consider:- Bank Statements - 1099s - Credit Score Please contact me with options.

My assumption is that there are a lot of bad apples, and very few that actually care about the seller.

One bad one can wipe out a whole year's profit.

I do not think they regulate this strictly on other industries like food service, or even medical.Sounds like the mayor or city planner or someone "important" had a bad stay at a STR somewhere.

That would almost always be from the same lender who has a 1st AND 2nd on the property and they are just fed up with the owner and are taking the opportunity to get out of a bad situation entirely.Sorry, it's complex enough that it isn't a 15 minute class.

But you have to ask proactively, and be mindful of how long you stay in forbearance to avoid long-term credit issues.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

Sounds like a bad situation.

You might find a local credit union or community bank that will go to 95 -100%.At one point I called 2 different VA Regional Loan Centers regarding this section in the VA lenders handbook:Assumability - The second mortgage should not restrict theVeteran’s ability to sell the property any more thanthe VA first mortgage.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.