Asking in the correct forum will get a better response.Read the RULES!

If convicted of bank fraud you may be facing large fines of up to $1,000,000 and/or imprisonment of up to thirty years.Posted without comment.Okay, so one comment:Just because someone in your community says it's okay to do, better clear it with the feds first, or you may be talking with them later..This reminds me of a Subto in California that went bad and wasn't handled correctly. 

There is enough demand on the north side you should never have a tenant issue if you do the correct due diligence.Secondly, lots of fake applicants lately.

I ended up having to pay for their tax preparer’s time to (finally) meet with me and make corrections.

Once you build it correctly, you can offer it to other investors as a service.

I am also not a CPA but @Avery Heilbron is correct.

First of all @Diana Teng, have you ever gone to a restaurant and asked "is the food here worth buying?". 

If my crystal ball is correct, we are going to see a lot of these sub2 deals hit the fan in the next 36 months. 

Don't expect to agree with everything he says and be aware that no one is always correct. 

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor.