Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

I'm curious why I did not receive it, as I paid in full, and it is already on my credit card!

Most of our newer investors approach 2-3 lenders to discuss loan options.Some lenders recommend making your financing inquiries within a 45-day time period to avoid larger drops in your credit scores.All the best!

Using a smaller bank or credit union is the way to go.Being that you have been in business for 10 years I am VERY surprised your business banker can't help you!

In order to execute on any of the strategies from #2, you will want to a work/income history and decent credit scores.

@Donald Hatter We send the information to a collection agency who attempts to recover the money; after they make several attempts they place it on their credit report. 

I have one lender that will go up to 85% but need 720 credit or better and 1.25 DSCR no rural areas

If your credit ****** you need to hit up creditrepair.com or some other credit repair  company  and work on getting yp to about a 680 or more with you learning  from jerome.   

With fewer buyers in the market due to high rates, investors who move now have leverage to negotiate on purchase price, seller credits, and even off-market deals.The biggest mistake investors can make right now is waiting for perfect conditions.