The referral fees, which operate similar to a multi-level marketing models, often incent these students to post the rare assignment fee check that does get done to every social platform they can and make it seem like they have an "in' with the guru leading the program. 

I believe they are recouping costs associated with loans they don't close.

I’m on the deed, not the loan for the current house I live in here in GA. 

My specialty is STR financing and the majority of the loans we do are the 10% down second home occupancy loan.

Tariq  It depends on the type of loan program.If it's a Freddie Mac loan 6-7s depending on PPP, LTV, Fixed Term, and location. 

Has anyone have any experience acquiring multifamily property using a SBA loan like to get your thoughts?

(Could be more than just two) So just be aware, you can use the sec 8 income to help with qualifying for a DSCR loan but you could very well end up with a higher rate.  

Is it smart to take out a 40 year loan to get some cash flow?  

You're probably better off getting a Hard Money Loan.

Maybe consider a conventional reno loan like the Homestyle or CHOICERenovation.