If you get qualified for a 203k Streamlined FHA loan, you should be able to wrap that repair into your loan, get that repaired before move-in (without needing a general contractor and lengthy repair documentation like normal 203k loans) and there shouldnt be much hassle in getting that repair included if you have it professionally inspected and confirmed.

Would've been a costly and lengthy process to get it done legally and would have killed the deal for me.I guess if the price is right then it still could work

In addition to the ones you list, you will have CPA expenses, legal expense, major capital over time, and always the possibly of a bad tenant and major damage or a lengthy eviction.

Sorry for the lengthy post.  

I’m familiar with the application, but I’m curious how lengthy the process is, what kind of hurdles does one usually face and what is the likelihood that the city will allow the maximum capacity under the density bonus application?

Banks and Mortgage Lenders | The Truth About Mortgage.comPros of working directly with a bank:– Build off existing relationship (discounts if you have a checking/saving account)– You already know the banker who will handle your mortgage– Perhaps more trustworthy, more accountable than a smaller shop– Lower interest rates in some cases– Ability to add mortgage to existing banking profile and make automatic payments from linked accountsCons of working with a bank:– Conservative loan programs– Do not disclose the yield-spread premium– Lengthy process, very bureaucratic– False promises– They make mistakes– May overcharge you (commission doesn’t need to be disclosed)– Incompetence (poorly educated about the home loan process in some cases if they’re just general bankers or customer service types)Pros of working with a mortgage broker:– They do all the legwork for you, working on your behalf with the lender– They compare wholesale mortgage rates from a large number of banks and lenders all at once– Wholesale interest rates can be lower than retail (bank branch) interest rates– You get more loan options because they work with numerous banks and lenders– Brokers can finance tricky deals because of their knowledge and various lending partners– Are typically easier to get in contact with, less bureaucraticCons of working with a mortgage broker:– They make mistakes like anyone else– May overcharge you (how mortgage brokers make money)– False promises to get your business– Incompetence (poorly educated about the home loan process in some cases if newbies)– May not have access to programs with select banks (approval varies considerably)So as you can see, as a private money broker, there are many Lenders we have access to and even more loan products combined between all of them.

I'd agree that yours is a bit more lengthy than mine as well.

I chose an unconventional option but I saved about 65% of the original loan balance by negotiating with Navient coupled with a lengthy amount of time down to settling to 35% of the entire loan balance.

Because of that, I have had multiple lengthy conversations with multiple attorneys. 

Some will bug you about it repeatedly, I've gotten 5 lengthy text in the last 3 days.2.