I could see a requirement, perhaps under the Patriot Act, that requires all landlords to get a SSN/TIN from everyone living in a unit and report that (or lack of) to the federal government.

I can’t help but imagine it would be that guy’s last day if the appraisal came in $1 under the sales price. 

My lot size is 7,467 sq ft --- just under that 7,500 sq ft mark.

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

@Timothy Frazier Yes, the only reason to use HML as a down payment is if the property is "mostly turnkey" AND you don't have the funds to renovate AND you have strong CMA comps from a real estate agent that supports that the fact that you are buying a property that is under valued AND your renovations would push that so that you could refinance.

I'm thinking I can get a nice purchase price if I under cut the banks by 1% and offer 15% required down as opposed to the traditional 20%.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

What would be the best loan option for purchasing another property under my name that I’ll be moving into as my new primary residence? 

@Timur Salikov In NYC, $1,500 gets you a 400 sq ft apartment with a subway station under your feet and crackheads outside your window.

But in the meanwhile, I have come across a land in an up and coming CT market which is already approved for under 10 units.