this may sound harsh but the realtor needs to brush up on their loan origination knowledge. 

Not trying to be a jerk here, just warning you of the harsh realities.

Sorry, not trying to be harsh, but there is your warning up front.  

If you have hundreds of thousands to millions and a great business or high level professional paying job you do not need the drama or the headache.

But since I live here too, I like to have people on Month to Month leases so we can part ways without drama if things are not working out.

As soon as people are sharing walls, there is eventually going to be drama.

@Richard Decoste If reading a 200 page book seems monotonous try imagining it with a more exciting title like How To Not Go Broke In Brooklyn On Your First Real Estate Deal.That may sound harsh but the reality is you are competing against people who spent 200 grand on a real estate MBA and they definitely read more than 200 pages on how to crunch the numbers.

(Another deep breathe here and apologies from me to you for being harsh.)Perhaps your lender seems like a crook to you.

The drama and the theatrics are too much for me.With that being said, there will always to surprises... the more rehabs you do the fewer surprises you will find...

Also, remember that even if you got 100% financing on the property, there's still a matter of coming up with commissions, closing costs, etc.I don't mean to come off harshly, I understand your position, and trying to get something going.