Perhaps they offer a favorable refinance option if the property has appreciated to the point where the current loan amount satisfies their non physician loan LTV underwriting.

What is the LTV and prepayment penalty?

I'd say you need your own funds.

I have been kicked out of several for asking if you have to be a 40k student first to get their so  called funding (free money for your deals) first.

Hi Wendy, For first time flippers you should be looking at about 75% of purchase + 100% of rehab funds.

When I did my deals with them they only loaned on the asset and low LTV that is how you got such good rates..

that was not a method that Armando taught in the seminars I attended these were strickly how to find BRRR props and rehab them and then resell or refi and keep.. the Markets we worked were Vegas and Orlando and Frankly those investors who actually bought property doubled their money or more with the deals i funded for them and they bought on their own it was 2011 to 2013 which as we know was a prime buying time and had to hand it to Armando he picked two of the best Markets.. 

Also, if you have cash to complete the purchase, you can get preapproved and then make an offer with proof of funds and without a financing contingency with a standard 30 days to close.

Most focus on rate and amount of cash to close but bad loan administration or bad loan administration policies may cause the project to be far more capital intensive if viewed beyond day one of funding.

That will leave you with limited funds to actually purchase the house.