It was an old house and it was costly to keep it to the standards for Sec. 8.

Hey Naveen, unwarrantable condos are pretty standard non-QM. 

Because of this, I don't hold them to the same standard as normal applicants. 

The private investors form an LLC and get standard loan terms in a promissory note without equity or profit sharing. 

It is pretty standard for loan documents to be 100's of pages, so you'll get the hang of it once you find a good/credible lender and gain experience.

House hacking is one of the most risk-averse residential investment strategies and will allow you to test the waters and strategically plan from there. 

Ours is standard 10 days after settlement date unless noted otherwise.

Samantha Reeves,Thank you again for your replyHopefully if I run into this " Problem " with the property requiring $3,000 in repairs completed in order for it t pas the VA Loan standards , my Lender will o an Escrow  Holdback .But either way ( if I understand it correctly ) ...... whether I use an Escrow Hold Back or not, I will have to ay for the repairs out of my Own pocket, UNLESS the seller will pay for them ?

For water we always keep that in the owner's name (since, in our area at least, water bills run with the house and not the customer).

(You’re protecting equity/your net worth, if you don’t have anything you don’t need an umbrella.)I used USLI for a long time but they changed their standards a couple years ago and wouldn’t offer more than $1-2m if any property had a pool.