If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

In a recent post, I explained why that it is not the case.

I then went to the bank and mortgaged it for the same $30k at 8.5% over 20 years.

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

@Paige Corsello...You could call your bank contacts and find out if they are broker friendly.

If you walked into a bank, your pre-approval would likely never qualify for a house hack duplex.Did they count 75% of the expected rent towards your DTI? 

You put $287k in the bank and earn $14k/yr.

When I tried to get it when my side of the family found out and tried ti take over reverser mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

Learning that I prefer money invested in real estate over money sitting in the bank... don't we all?!