In Lee County Florida alone, they now have 26 lawsuits filed.Also, in Harris County, Texas, a garnishment order was issued against Blacktip and various other parties for their Bank of Ozarks bank accounts.

Call local banks.  

House hacking and FHA loans can help qualify for lower down payment loans, while local banks and credit unions offer favorable financing options.

That's a good example of a 'healthy' mortgage market albeit fairly astonishing that banks would consider the revenue data accurate and consistent enough to lend on.

There are a lot of loan officers sometimes new to the business that send out what is known as a "teaser rate" More than likely you are also paying 1.50 to 1.75% points for that rate and you should "Never" pay points just use a real FDIC Bank instead of a "Lender".

As for getting a mortgage, you will need reliable income and some W2 to show the bank.

As long as your mom has the full down payment I don't think the bank will require you to put money as well.  

It also usually requires opening a special bank account and depositing the rent and/or getting court approval.No rent = eviction notice. 

- Has anyone had an issue with banks or insurance as far as the public record stating one thing and the actual use another?

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?