@Mike Reynolds Thank you very much for the explanation.

Another possible option is if you have enough income of your own, then have the loan be underwritten on you, and provide leases for the units that are rented with an explanation that the current owners tax returns are useless.

Prepare for the unknown future in case something bad happens.I live in Dallas County Texas and never have been east of the Mississippi River so I cannot give you geographical recommendations.  

Just PM me if you would like a few of their contact info.When you say North Chicago, are you talking about the general geographic location or actually North Chicago?

Always deals to be had, what sort of geographical boundaries do you have?

For OKC and Tulsa it's not so bad, as the city limits stretch across much of the metro area and offers a lot of options...but in Denver, and even worse Atlanta or Miami for example, you'll be searching a much more constrained (and arbitrarily constrained at that) geographic area.

Of course, an explanation of the situation would be helpful.

There is an entire structure that can be put in place depending on your short and long term goals.Let me know if you need more explanation.

Someone will need to take the time to help him draft a letter of explanation for items on his credit report.

Any explanations for this or ways to bypass it?