I've spoken with a few lenders who are amicable to sub 100k loans, but the lender/broker fees total about 8% of the entire loan amount. 

Let me explain to you why I chose CA as well as my goals and strategy.For starters, I'm active duty military, and this has given me access to a VA home loan which gives me better leverage to easily purchase a property with zero down.

What’s the general process for assuming a loan as a buyer?

The strategic location and opportunity to enhance the property's value with minor improvements made it an appealing investment.

If you are a lender how many loan submissions do you see for every loan you fund? 

RE loans to business usually require the business owner to personally guarantee the loan. 

VA loan How did you add value to the deal?

Having worked in and around real estate including loan side for both residential and smaller specialized commercial (medical), renovation and new construction/new build with a broker & brokerage founder (who has since retired) I know from him that in addition to reputable property managers, contractors and architects we had accountants including a forensic accountant on the loan side and a handful of real estate attorneys with one on retainer.

As I prepare to use an FHA loan for my first multifamily investment, I've become concerned about the extensive repairs that can accompany purchasing an older model.

FYI you made capital improvements to the property.