This is in Palos Verdes area.

The 50% number is either a LO that does not really know the requirement or it is there internal requirement for their non-conventional loan program. 

Hello, we are considering buying a single-family home in the Vail or Tanque Verde school districts.

I talk to investors all the time who start out asking about DSCR loans because either they are sure or they have been told by a LO that they could not qualify for conventional loans because they own an investment property or two.

Marie Poe  in TX on a LO the seller must provide the mtg info and then submit an Auth to Release, or could also use a LPOA so the bank has permission to talk to the buyer. §5.016 is for a wrap or contract for deed, but does not apply to a lease option. 

Hay que aprender saber lo cual es bueno y comparar a lo cual sea malo.

Hey David,I'd love for a LO or someone else to weigh in on this, but I'm almost positive what your trying to do is illegal?

You've had the opportunity to shadow an active developer for a while and may have gotten to also make money with them (you mentioned you were a LO in their open houses).

My advice is to get a better understanding of what a LO is. 

Costs nothing to have a LO work up your income.