But just thinking about it, the strongest point I can think of for flips over BRRRs is the potential timeline of a project.With BRRR, the bank requires a seasoning period of 6 months for conforming loans (Fannie/ Freddie).

The Buyer had no idea how tough the area was). 3) The property has non-conforming features that a buyer may not be aware of.  

Ideally conforming, cookie cutter 3/2.  

I read that there are new mortgage lending programs that allow first-time homebuyers to put as little as 3-5% down with a conventional, conforming loan.

Subject property is located in a commercial zoning district and is a legal non-conforming use.

You need to go to 3 flats with non conforming units or 4 flats.Recall there are four ways to make money in REI, cash flow is only one. 

If its not zoned for that, or its non-conforming, then you might have some problems getting financing on the property.

You won't be doing these in your own name as residential conforming mortgages.

I advertise for houses - commercial and non-conforming properties - so I might get a motel one day, a farm, land or just houses - banding on radio works - call any time.

It doesnt matter if there is 819 fico or not these loans are designed to be sold to fannie and freddie mac and they must fit within the guidelines in order to be marketable on the secondary market.If these two units have their own respective legal parcel numbers and are conforming SFR's in their own right to the current zoning then maybe you can potentially do 85% LTV investor/non owner financing on each property, but like Chris mentioned above pricing is "Yuuuggee," probably high 4's to low 5's with monthly MI.