The decision would be based on the income situation, so I'm not worried about violating fair housing laws.Lesson learned...

Hello everyone and thank you in advance for taking the time to help me with a personal situation.

Rental income is about 4800/monthly....David,If I'm understanding you correctly, a DSCR loan could be a fantastic and elegant solution for this creative financing situation.

My gut feeling is next time this happens I tell the seller that I won't go along with such a situation.

Someone's current situation they are, no matter how bad, has ZERO relevance to their willingness to sell below market value. 

And what is most alarming, is he didn't have a title report run for the gator lender.

For short term bridge loans with rehab, if the area is a lender preferred area (you learn these areas by doing lots of deals and noticing in what situations the lender offers their max terms), and your credit is good, and the spread is above average then 90% of the purchase price is possible, so you only come with 10%.But I can already tell what you are after I feel, are you trying to find out how cheaply you can be into a deal for? 

Could you DM the situation and I’ll talk it over with our moderation team (next week)?

I was going to go rehab it for Short Term myself, but I am in CA and my situation will not allow.

@Jonathan Feliciano: While I respect everyone's experiences and opinions, this is also such a unique situation to you and your potential partner.My first out of college was with a group called Phillips Edison & Company.