I did trying to do one subject to loan an my real estate investor didn't know much about it. 

Reason being HML's are typically short term loans that are interest only.

.: Anyone with experience (and/or referrals to lenders) with non-recourse loans?

With a 203k Renovation loan, you can also finance in your payments if you are doing a major rehab. 

You can only do this with a commercial loan.

We are trying to think of all our options for a rehab loan.

Wise lenders have borrowers sign legal agreements and have them provide collateral that is worth more than the amount of the loan in case the borrower doesn't make the promised payments on the loan.

I'm am running into a lot of properties that the MLS says it sold for less than $5,000 dollars.

There is a guy near me with 6 small houses he rents , he has a waiting list .

Different DSCR lenders have different guidelines.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.