It’s a sales pitch for you to invest with them at extremely lucrative rates for them.

“Note investors who think learning from people who scam others out of millions is a good idea and a way to have a good reputation in the space.”I think we have to divide the above into two distinct groups.  

I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors. 

I would make one distinction and that’s between an expense and a capital improvement. 

I think they are just an extremely conservative bank and that is their interpretation of Fannie's guidelines.I have already gotten approved from some other banks (credit unions), so I'm not worried, but I am curious if anyone else has run into a bank telling them they need at least a 20% down payment on 3-4 units, regardless of it being FHA or not.

I'm in Open Door Capital's Fund 4 and I'm extremely disappointed.  

It is extremely difficult for your tax preparer to know if what you give them is right without a balance sheet unless they dig into each transaction which will be very costly.

I would have to call someone that is extremely motivated to sell and willing to accept any offer despite what they had listed to accept the offer on the 1st call. 

Hopefully, I'm wrong but if not take into account for the families "house-hacking", it's an extreme and unpleasant sacrifice with a majority likely not happy with it.

However, every company I find either doesn't insure non-owner occupied units or is extremely expensive.