So if it is zoned RT-4 but taxed as 7 units then it is considered "legal non conforming" which is perfectly fine EXCEPT when you, the owner, destroy/tear down the property then it must be rebuilt to conform with the new zoning.

If you have more than 4 conforming mortgages, you can't do a cash our conforming mortgage on any of your rentals (but you can on your primary residence)As someone stated, you might be able to get a private money loan,,but as far as conforming mortgages, no cash out after mortgage 4andy

New construction must conform with local codes and HUD Minimum Property Standards in 24 CFR 200.926d.(2) Rehabilitation of Existing Structure.

Cash out with no seasoning is still available for conforming loans.

Well when you start borrowing in that purchase range (I don't think) you'll run into the Fanny/Freddy rules because you're not dealing with "conforming" loans.I started doing cash purchases due to the high (onerous IMO) charges associated with borrowing on lower end properties.

The only conforming loan you can do is a “rate & term refinance.

Because of my market though, most of my tenant buyers have gotten more conforming financing, i.e.

Kirstan,The guidelines you referenced are from Fannie Mae conforming lenders.

As my tax returns have grown more complex getting conventional financing has become increasingly exhaustive with my last fannie mae conforming refinance taking 5 months.I have around 575 liquid in deposit account in addition to all the equity in my portfolio.

@Jhanel Wilson Is that for conforming/conventional loans or private/portfolio loans?