(Search for the Due on Sale clause in a mortgage and you'll see plenty of threads and opinions on that but it is very common practice).I would focus 99% of your time on finding the right area and property, as well as team - agent, Property Manager (@Stephen Glover is a very good start on this one btw), banker, Contractor, etc.

Thanks for clarifying its not a foreclosure sale but instead, an REO sale (Which i suspected), which is for all intents and purposes, a regular real estate transaction between a buyer and a seller, which has rules and regulations for each transaction.So, as a banker that sells REO, i would ask myself what it is you are hiding.

As a banker and investor, I have a hard time understanding why the extra little cash flow you get from the 30yr is better when your rate is 8% or higher.

You have a lot of options so make sure you add a good Banker to your circle or Network to help you explore all of your options.

I've been a banker, investor, and lender in Tampa for the past 27 years.

Excellent property managers refer me and often have relationships with others I need on my team such as bankers, attorneys, vendors, contractors, agents, and most importantly deals.  

I would start by paying the second GC to write up a short statement explaining their expertise, what they found when they were awarded the job, what they did to fix the existing work, and attach a copy of their invoice.

And this:  don't put someone else's selfish needs before yours...there is no award for suffering fools.To better days to come...

However, bank is not accepting virtual address as physical address and the banker is telling me that I cannot open an account in a different state than  where LLC is registered. 

@Michael Plaks:For the number of times you've had to post this, it should be required reading before being awarded a Bigger Pockets account. ;-)  Sorry to for my ignorance Ken