The answer is yes, 2nd lien DSCR loans exist and more than one lender can do them, but you would probably have to up your credit score to be able to get up to a total of 75% ltv between 1st and second lienOtherwise, you would have to get lucky on a favorable appraisal.

Borrowers are not allowed to complete any of the work themselves as sweat equity.Loan to Value Calculations:The original principal amount of the mortgage may not exceed Fannie Mae’s maximum allowable mortgage amount for a conventional first mortgage.Purchase: For a purchase money transaction, the LTV is determined by dividing the loan amount by the lesser of the “as completed” appraised value of the property or the sum of the purchase price of the property and the total rehabilitation costs.Refinance Transactions: For a refinance transaction, the LTV is determined by dividing the original loan amount by the “as completed” appraised value of the property.Eligible Renovation:There are no required improvements or restrictions on the types of repairs allowed.

Hi Shakti, As a lender we do work with US-visa holders as long as they have an established credit score in the US.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

If you choose not to show up, he would almost certainly be awarded a judgement.Of course, you could choose not to pay the judgement, but then he can send it to a collections agency and your credit score will be trashed.I don't see a scenario here where you get through this cleanly.  

Credit score does matter but they will lend on a per property basis out of your available LOC once they approve a line...again mostly based on your available cash and credit score.

Mainly I’m trying to avoid “aged poorly design” glassblock walls, small bedrooms, older windows (wood/aluminum, single pane), aluminum patio covers, and to a lesser extent landscaping.

As long as you have a credit score of at least 620, an HML/PML should be a good option for you.

This new property is pumping out around a 10.5-11% cap currently.My credit score is not great as it sits, hovering around a 650 but slowly increasing as i'm paying off debt.

Some of the specifics are credit score, DTI, signed lease agreement, and whether or not the lender accepts rent (house-hack) as income.