But its seems like these products are imaginary programs that people have heard of but nobody has actually done one. 

@Justina Sirohman no one has created a reliable software program to do this yet - at least not one that is affordable for DIYs.So, knowledge, or access to it, is power for this topic.You'll either have to pay a contractor for bids, and/or learn how to price things yourself.

I guess I both programs have great features, just not the same features.  

I'm potentially looking to purchase a small rental building which falls under the NYC rent stabilized program.

Quote from @Gabriel Ortega: looking at 75-80% ltv for a heloc, yes all rental income are in schedule e  Hey Gabriel, If you are only a W2 earner the bank statement program will not work out, since you must be self-employed to qualify.

Same program, Fannie 5% down.Find another lender with reasonable terms.

The Federal Housing Finance Agency (FHFA) gave conditional approval on Friday for a pilot program allowing Freddie Mac to purchase SFR closed end second mortgages. 

Not paying the difference between their voucher and your rent is not a reason to evict them or penalize them from the program.

The combined loan to value (CLTV) has to be no more then 95% for most programs.

… heck ya… but I was more scared of being stuck in the same place and losing money on this new rental I just launched, I was a 100% newbie)I personally came into the mentorship program just to learn how to get travel nurses in my rentals (at the time it was my 1st rental property) .