Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

As I mentioned above, the risk of being sued, found guilty, and fined more than your insurance will cover is almost non-existent. 

Cash flow is mostly non-existent now, unless you find a great deal. 

I had a cost seg done on one of my homes and trying to get one done on another from this company that rob with bigger pockets had done a set on.Every time I email them it says there email doesn't exist and cannot get a response.

They do exist.

SBA loans can also be used to purchase existing real estate, as long as at least 51% of the square footage is owner occupied (so occupied by your business). 

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.

The bottom line is, the strategy can open doors you didn’t even know existed.. it’s not just a tax hack, it’s a wealth-building strategy that rewards a little patience and a lot of foresight.If you’re floating around Chicago, Omaha, or even dipping your toe in the Phoenix or San Antonio scenes, I’d love to help you navigate this territory.

If so then the chance of them defaulting on your seller finance terms is high and you’ll still be affected by the same problems with the property that exist now, you’ll just have much less control over it so your risk “being the bank” on this property is going to be high. 

As others stated, if the existing structure is legal but non-confirming that should not be an issue.