Greetings BPI came across a Fannie Mae REO just by chance. 

Further investigation is showing me that this is very difficult to do now and that for each rental you have, you'd need a 6 month reserve to show the lender in the bank, and that Fannie Mae limits your rental properties to 10 units.  

Fannie Mae "Second Home" financing, 90% LTV, for the place where you frequently travel for work.

@Gilberto Rodriguez  By doing it this way not Fannie Mae/ Freddie Mac- we are estimating we can get to about $2 million financed through this bank before having to find another source (which could be Fannie/Freddy)

Is there any sort of Fannie Mae maximum value loan limit on refinances?

The lender that I have been using has informed me that the condo is not Fannie Mae approved due to the fact that one owner owns more than 10% of the units. 

If it's a 3-family and fully residential (no retail or office space), then it qualifies as a residential loan under  FHA/Fannie Mae/Freddie Mac guidelines.

This is beneficial because you can use this extra cashflow to reinvest in another property to create a snowball effect until you max out with Fannie Mae.

The scope of work and estimates will have to be provided as part of the loan process, and inspections will have to be done before the money is released.If you're going to be occupying the home you can look into either an FHA 203(k) loan or Fannie Mae Homestyle loan.  

Hello all, I am looking to make an offer on a three family Fannie Mae foreclosure with dry rot under the exterior stucco on at least two sections of the house.