I am now shopping to replace, but curious where I can learn more about the pros and cons regarding a policy like the one mentioned.  

I actually had come across your post below in the Events forum and thought to myself it would have been nice to attend that to see first hand a local flip and talk shop about the process.https://www.biggerpockets.com/forums/521/topics/1215682-chec...I am happy to hear that someone with your experience in the region feels that Westchester is a market with some potential.

Rates that low don't make sense especially if they're a no doc shop.

Whether it’s a mom-and-pop shop or a larger operation, I’m looking for insights into who’s buying and who’s selling.  

However, many lenders offer only the 7A, so you'll have to shop around.

Small shops with apartments above.

Laundromats that are next to (same building) or attachedwith an access door to a coffee shop, cafe, etc are the best ones to get.

@Chris Seveney I remember when cupcakes shops were popping up everywhere and were a big thing.Then, poof, most of them were gone!

I can say my personal experience has been pretty mediocre.

Right now we're shopping around for loans outside of traditional lenders.