Ultimately though, it will depend on the lender and the availability of funds (assistance) available for the demographic area that you are purchasing in.Do you have a property that you are looking at?

Many investors successfully build portfolios remotely, but thorough market research and assembling a strong local team (agent, lender, contractor, PM) are key.

Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

Furthermore you can vastly increase your returns through leverage using a non-recourse loan but that will definitely trigger UBIT but again the numbers can still make a lot of sense. 

I considered suing for non-performance but felt the hassle of doing so would not be worth the benefit.I'm still hopeful and looking in the Flint market, I just would not use them to do so.

Begin by targeting distressed properties in gentrifying neighborhoods, securing financing through hard money lenders or private investors, and focusing on cost-effective renovations.

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

Now solely as a lender, i actually reverted back to it in unison with our mortgage origination software. 

Not all lenders are equal.

Look, I will try to simplify this: We have 3 parties money; (a) the landlord investor, (b) the lender giving a mortgage for purchase money, and (c) the tenant paying for use.