There are some additional things that could help determine which loan product is best for your situation.203k Best When:- Credit scores 680-720 or less- Renovation will improve the value of the home more than 75%- Renovations will be on or in the home - no new yard projects, only fixing existing- Higher Debt To Income (can get approval with up to 56.9% dti)HomeStyle Best When:- Purchase + Renovation costs will come in higher than FHA Limits- Home improvements will only improve vale 75% or less - 720+ credit or 20% down (of purchase price + reno cost) to avoid PMI- Exterior Projects (fence, hardscaping, pool, outdoor kitchen)- Lower Debt To Income (sometimes as high as 50%, many times between 45-50%)- Renovations that are greater than $35,000 (soon this will move up to $75,000)Happy to answer any other questions that you may have!

Is it necessary to create one or is the existing information in my credit report, full view, and tax return enough?

No matter how much home equity you have, you must pay off an existing home equity loan before you can obtain another.

Everybody I have called said no except for one company that only does portfolios with established customers talk to the existing insurance company and pay that premium then add those fee's to your note at payoff. 

Their coach told them to specifically seek out these deals believing they can only be acquired with these seller finance terms and wasn't even aware construction financing existed that could easily take down this particular deal.  

There is a Citizen by Development program that helps you save taxes for new developments but the best bet is to buy an existing property and slightly renovate.If you have never dealt with Caribbean based labourers and you have no patience... then the Caribbean is not for you. 

A couple years ago, on a cost per ft basis, existing home sales started exceeding the cost to build new so that drives things. 

Most places areas like this have been doing short-term rentals long before AirBNB even existed. 

You must honor the existing lease terms until expiration.

Time is money and extensive knowledge in a particular field doesn't come for free.So what am I doing with existing clients with interest rates so high that want to buy NNN with long term leases and strong tenant.1.