Always had to jump through hoops but always had it based on the property / asset

They should be bale to guide you more based on what you are looking for in the area. 

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Mortgage rates are based on what lenders consider risk factors such as loan to value, credit, etc. 

Willing to go the extra mile here based on the numbers.Thanks!!

I was kind of skeptical, but seems this city/town is good place for STRs based on your response.  

Most lending is based on cashflow, not the 2% rule (although still a good rule of thumb for some types of investments), might have the most help from the group if you provided some of those details here just so it'd be easier for us to help you best. 

Quote from @Brandon Croucier: Financing a commercial MF that runs as an STR is possible.Appraising a property based on the income is not, whos to say a buyer would STR the property. 

To remedy this for next time I am in the process of creating a design board that can be used as a base for future flips.

Though it may cash flow well based on their current debt service, when you compare the income it produces to the equity they have is it actually even a good investment for them from an ROI perspective or would they be better off liquidating and redeploying?