Some costs are eliminated (such as 'soft charges') while others are accounted for in the interest rate. 

You can be charged with wrong doing up to 10 years after you buy the property. 

Tried to get title search but it’s too late it seem and title company does not guaranty anything after charging $500.

If he feels he still has rights to the rental and the deposit, then that also means he has responsibilities for the damage and is subject to charges.

Generate a comp set in Pricelabs and you can go into finer details on what others are charging.

However, without significant updates, they’re likely to reject your application outright without leniency. 

My issue is, it's been almost 3 months and I haven't be able to get good tenant applicants.

@Charlotte WilsonTo clarify, as @Perry Farella pointed out, there is an upfront MIP charge but there is also a monthly mortgage insurance premium (MIP).Any time to put down less than 20%, you will have to pay monthly mortgage insurance.

The great part about contacting the CDC directly (and a large one such as TMC) is they can make referrals to banks that would be interested in your project (i.e. banks that have been actively doing SBA hotel loans)...rather than you having to chase down the bank first, which can be very difficult.Regular commercial lending requirements are applicable (will vary by bank):1 - no bankruptcies2 - no foreclosures3 - FICO > 7004 - net worth >= loan amount5 - post closing liquidity >= 12 months of P&IIf this works out, you are going to be glad that you made this post.

The window for application won't open until what's now a draft proposal becomes law.