My assumption is that it still will be better to purchase in my name (better loan terms, ability to put 20% or less down, and I'm already pre-approved) and move to an LLC, but this seems like a steep cost of doing business.

@Armando Carrera as others said above that’s mortgage fraud and not at all what an FHA loan is for.

@Jose Solis you just need a loan for the land? 

Are you aiming to lower your monthly payment, shorten the loan term, or switch from an adjustable rate to a fixed rate?

The policy consideration behind the higher leveraged loans is to provide financing for individuals who have high earning potential and are at the start of their career where the earning potential has not yet materialized and perhaps are dealing with the added burden of student loans.

Looking for guidance on options. new builds aren't hard to finance and I would argue they are preferred to existing fix and flip loans, especially if you have experience. banks look at your experience, your builder's experience, loan structure, permits, etc you need to get an experienced builder familiar with advanced underwriting and negotiations with local, regional, and national lenders. in columbus we do ground up construction for clients at a 20% discount so they can BRRRR out of the new build with equity and we have pages and pages of data on what we build and why and it's all supported by market statistics. 

Places like San Antonio might present more favorable cap rates, from what I read in Forbes recently.Refinancing could free up equity if today’s loan terms are more attrative, though that depends on current interest rates and the property’s updated value.

I got a loan on the property when I bought it. 

When you have 10 “little” properties with loans (Say $150-$200k each) and exchanging to either 1 big $2M property or 5 $400k properties to free up more “golden ticket” loans. 

Are there any other no documentation loans other than DSCR loans that I should look into?