We paid back the 401K loan in 8 months and best yet paid all the interest back to myself vs. the bank.Aug 2023 - I went to my local bank and got approved for a HELOC on my primary residence. 

Quote from @Jaikevis Reams: In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do? 

This can take 2 days to 7 days depending on if there are any problems or things missing or if it is a slam dunk easy loan.Once out of UW, you will go to approval stage. 

Just a simple 499 sq ft city approved plan, single story, 1 bed/1bath/full kitchen adu with living space.

The boards and management teams must consult with FHFA and obtain conservator approval as FHFA directs.

•Find out who actually makes decisions—tenant approvals, renewals, evictions.

It is entirely possible that a Sponsor can be approved, but an individual offering may not.This industry, like all real estate, has its ups and downs.

The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.

If you're able to get a downpayment, DTI approval, then the opex will likely be the deal breaker.BP Legend Bob Stevens & I mentioned SW FL a year or so back.

If my business owner bank statements did not gain me an approval, I was going to go the hard money route.