I wouldn’t want to hold the loan for too long, so ideally it would be a 5 year term, presumably ballon payment at the end.

Quote from @Leonard La Rocca III: So is it common to find a conventional loan without meeting the lender in-person?

Yes there are alternatives for both beige and 30 year loans for no US borrowers.

These properties appeal to students and low-income renters, especially if traditional housing is limited.

The counterclaim states that since the deed in lieu language was part of the loan, the entire loan is invalid.

I liked student rentals and I found that didn’t motivate him.

Hi Ricky, Have you tried looking at a DSCR loan?

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

Also, did you have any other loans (ie student loans, primary residence mortgage, etc) when you took on the $25k? 

You take policy loans.