Create a simple excel spreadsheet to track everything.

A lot of these products are spot on, highly stylized rentals.

Are you speaking in terms of a live in flip or just a conventional loan product on a primary residence?

Is there a license required or a charter needed to sell these products or can just anyone do it?

He said: "The loan product that the bank has you approved on is for rental property in good to excellent condition, where tenant can move right in.

Most big banks will follow FHA guidelines, but some of the local banks / credit unions have more aggressive products and can lend with higher LTV or DTI limits once you have some experience.

All you can do is go in and inspect the place, but to what productive end if the previous owner still has access? 

FHA has slightly lower down payment, but you are forced to refinance if you ever want to get rid of MIP so you end up making that payment one way or another.Ask your lender what are all the differences in the products.

Real Estate is an investment that has the ability to deliver excellent returns because the cash down payment is such a small fraction compared to the return on the retail value .

If someone is offering a 75% LTV of ARV loan and someone else is offering 80% LTC of ARV....then that 75% loan would be a superior loan product.