They would have access to modifyyour bank account info.

Bank assumption How did you add value to the deal?

I would not listen to that chatgpt response.Please note this home will not cash flow, so you are going to be banking on appreciation which may or may not happen in the next few years.

Then of course there's the IRS this is a exert directly from the site: Federal law requires U.S. citizens and resident aliens to report any worldwide income, including income from foreign trusts and foreign bank and securities accounts.

You could always call a different bank and ask a loan officer that question.

I work at a CPA firm handling bank analysis and bookkeeping for businesses.

They neglected to mention that SROs (single room occupancy, aka lodging house, aka rooming house) also means likely very high maintenance, necessitating supervision and hands-on management.The property had just dropped out of contract because the first buyers couldn’t get bank financing.

It does not provide banking accounts for deposits/and to keep units separate. 

Water heaters need replacing, bank errors occur, tenants move out, real estate bubbles happen, etc. 

Did you use a bank, credit union, DSCR loan?