I explain to them how we would buy their property (sub2, shortsale, L/O etc) and make sure they understand and agree to that part of it.

Also, I spoke with LO about their program for medical professionals and he basically said that with a condo purchase they require a minimum of 10% down, and the rate is about 1-1.25% higher.

What was going on behind the curtains is that the LO was really really trying to find a way to make it work, but in the end couldn't find a way to help the borrower check all the right boxes. 

Non-qm is just throwing spaghetti at the wall, and hoping something sticks -- otherwise you lose your earnest money deposit (the LO loses nothing, so why not promise the world?).

If you are looking at a loan on your primary residence, I would first be looking for an LO who you can have a conversation with and trust that they know their stuff.

Quote from @Stanley Lo: Who do you recommend for Note Fund investment? 

Are you looking to be an RE Agent or LO?

It'll be less than 20:1 if you start looking in a city with a city transfer tax, the above 3 examples, Los Angeles, and Sacramento, being examples (OP is in Texas and OP should find a Texas LO to get Texas-specific numbers, I'm only qualified to comment on what I see in CA). 

Interactive Brokers offer margin rates as lo as 1% (on large balances).  

What I would like you to do is talk to my top LO who works with REI folks every day.