I was preapproved with that amount before, but it was for a single family, primary residence about six months ago.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

Quote from @Jimmy Chao: I am weighing some options to help my younger brother buying his first primary with a fixer.

That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this.

80% on primary and 75% on investment property I believe.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

I got approved for a HELOAN on my primary property but not sure if I should take the loan to just use as “leverage/reserves” to show the HML and get funded.

In short, I purchased my primary residence in 2017.

I’ve bought my primary with various Schedule C income and refinanced a primary with lots of schedule c and a number of properties (mostly owned in LLCs but reported on my personal return).