He has 15 total financed properties currently which is the main reason he's not able to go conforming.

(simo purchase money 2nd) $29,000    down pymt Hoping to sign up this loan scenario today on a 5% down jumbo purchase which gets her first mortgage down under Jumbo loan into to conforming loan pricing at $453k, avoid PMI and the need to escrow as she's very tight on post closing reserves.But given this borrower's credit is in the 740 tier, she also may have an option to qualify for one of the new 95% ltv single loan Jumbo with No PMIShe came to me as a referral from a Realtor, who I don't know, so the deal was already under contract.  

EDIT: Forgot to mention, you need that stable W2 job to get the nice conforming 30 year mortgage for the first 10.

Now, their new leases are coming soon and we will assign them parkings, or replace tenants, of course all depends on their conformity with their situations.

Hey @Joseph WrightI don't have any direct experience with pre-existing MF now zoned as single family, but I am aware of situations where the sale has caused trouble with the grandfathered in non-conforming use.

I don't want to wait 30 day in the hopes of getting over 720 and then another 30-45 days to complete the refi.Do you know if a non-conforming loan is an option?

The forms are updated to conform with changes in the law.

Also depending on how you finance, you could technically be violating the terms of your mortgage by transferring ownership from your name to your LLC name (conforming financing is only available in your name, not LLC name). 

If that is the case @Rob Drum is your man, he is skilled in setting up owner financing deals and finding some amazing dealsI have done several myself and can share the forms if you like, I will warn you can only do 3 a year and not have to conform to Dodd-Frank guidelines.   

The main reason this one is so great is also one of the obstacles - it's non-conforming.