She said she could be flexible on price though for the right people.- She says they are cash flowing (three units, as she occupies one) about $24k a year.  

5.Do you use a “boiler plate” lease, or are they flexible?

@Lodina Cokleywhen @Jay Hinrichs says unsophisticated don't read it as he's saying YOU are unsophicated. his point (and a good one) is that commercial properties are generally owned (or represented by) more knowledgable owner/investor/agents who will spot a wholesaler from a mile away. like both folks before me stated, they'll require a POF and scrutinize that even before reviewing a LOI.Unrepresented residential homeowners are generally more flexible with the terms because they don't understand the process or right questions to ask to check it's actually you making the purchase.

Heloc's sound cool because of the flexibility, but it seems institutions don't want to give LOC's on investment props. 

Those conventional loans have better terms and rates but the portfolio loans are more flexible (usually). 

I also found the Homestyle® loan which is very similar. from what I understand, the homestyle® loan gives a bit more flexibility of the renovation, requires slightly higher down payment (at 5% down, this still makes for a much more affordable first buy), and allows you to end your PMI after 22% equity, which seems very attractive to me. 

It's a very negotiable loan and that depends on the flexibility of the Owner and the likability of the buyer. 

You didn't mention your exact credit score but they may have more flexibility. 

I had a tremendous amount of flexibility.

that allow them the flexibility to live cheaply or purchase that first home.