Name detection is via loan signatures.

@Ashish Acharya I have found that I get better terms for personal loans. 

You don’t have to pay $20k+ to learn to broker loans. 

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

If he has a $5MM loan in place, what was that used for / is it coming due/ was it short term/ etc.?

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

Instead of a traditional down payment, I would give them some money (maybe just to bring the loan back to even).The upside if taken over the loan at the current balance, with some rehab and hopefully getting the front lot back would be a nice ROI. 

We just had our 3-year loan mature on 2/2/24.

Also add if you are getting any type of loan on the properties a Wyoming LLC will not make you anonymous as you will need to sign the mortgage in your name: 

Registration fees $800+ SOI $50 fees California and legal stuff-keeping it simple-easier to refinance a SFR if decide to just BRR and cash out refi in my personal name versus trying to get loan in LLC name.