when I sold some of my REO's i had on the books a few of them went through Naca and they have been around for decades and lo and behold when I saw the docs B of A was the lender and these folks go in with no downpayment and seller ( me bought down the interest rate) to sub 2% .. heck the insurance cost more a month than the mortgage. 

Being a LO that works mainly with investors, a lot of the properties that I see that have a STR history, are performing better than the rental estimate.

@Scott Sloan   I would echo Chris in that it would make me very nervous that you had to coach your originator about Delayed financing which is a concept every LO should under stand backward and forwards. 

I can tell you often this kind of info is kind of like the kids game telephone in that the reason gets passed down from the underwriter to  original LO to the  buyers agent to the listing agent, to your real estate agent etc etc and by the time its get you the real reason is obscured or at least twisted a bit.

The title/escrow folks you use will do this for you.If you do not have "title/escrow folks," call your Realtor or LO that you've done business with in the past, put the request through them.

Your LO should be happy to do a side-by-side with you.

I have been working in residential and commercial property management in Buffalo, NY for close to a decade.  Construction and development, too. Last month I started in RE sales..  After my wedding in the summer, I am ...

@Greg GalustianLoanDepot has a strong rehab loan division ... just make certain your LO knows what they are doing. 

Latest one is basically a 4 month LO. 

LO's are great, if you do them correctly.