To expand a little on what is mentioned the underwriter's guideline, a DIL does not extinguish subsequent liens, so if the borrower has judgments against him/her/it that attach to the property, the DIL grantee takes title subject to them and may have difficulty getting them released later without payment. 

it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

Commercial Revenue Generating properties like office buildings, apartment buildings, retail centers, etc (banks call it "CRE" lending) are typically evaluated from their net operating income, not gross.

They were taxing as a fourplex, but the CO said it was a triplex.I found out when I went to try to refi with the bank.

Now my investor network as expanded and the best split I have experienced was 65/35 in my favor but I invested 40% of the cash and created over a million in imputed equity before any investor dollar was raised allowing me to originate a bank loan at 87% LTC.

Does the bank let you get 2.5 months late on your mortgage payments?

That is like trying to sell a tofu burger to an animal rights activist having to disclose that the building attached to your tofu burger joint is a slaughterhouse you also own where they slaughter baby cows, and using the exact knife that slaughtered the cow to cut the tofu.

Bank Financing How did you add value to the deal?

Fortunately, I just call the bank and tell the address of the property I am under contract on, and when I want to close. 

There is no seasoning requirement involved since the property isn't a short sale and it isn't someone buying REO from a bank with a seasoning requirement.