I am currently doing a fix and flip loan with Backflip. 

It’s so serious that, beginning January 1st in California, any lender who knowingly originates a consumer-purpose loan misrepresented as a business-purpose loan can face criminal charges and jail time.

At this loan balance, good news is you do have options with DSCR loans. 

Would taking a commercial loan on the new home with an LLC be  an issue?

I needed $35,000 for a new heating system so the bank gave me $28,000 (80%) in a business loan for 60 months which has no prepayment penalty.

SpeedBanks: Can take weeks or even months to close a loan due to really extensive underwriting processes.Private Money Lenders: Close loans usually in days to weeks, which will make it best for time-sensitive deals like purchasing a property or rehabs.3.

Bigger loan buy downs and bigger numbers for appreciation.

@Ramada Evans- 1) if buying as a rental and  financing it - your down payment will need to be a min of  15% of the  purchase price   ( so thats either  30,750 at 205K price or 32,850 at the 219K price ...so  not much of a down payment  difference   2) if it appears that there isnt much competition  or interest in theproperty - the lower price might be OK   3)  you might also consider   asking the seller for a seller  credit you can use towards some of your loan costs   4) get pre approved  if you arent already pre approved 

Neither for that matter will a DSCR loan when/if you go to get a full primary home loan for example for the same reasons.

Yep - your lender will be using an undisclosed debt notification service until after the loan closes.