We ended up buying from HD with a higher quality product that was easier to install. 

These are treated the same as any product you purchased and resold.

Not all lenders will offer it, because some lenders do not offer Freddie Mac products. 

Commercial encompasses large multifamily buildings, hotels, industrial, office, retail, development, self storage,etc.All of us that are commercial brokers specialize in an asset class and deal size range.If you are looking for larger multifamily or retail STNL or MTNL product it's all I do.

Use the BP calculator :-).  2)  Do not buy in the ghetto because the numbers look good3)  Write down your screening process  - this is your most crucial key to success and less headaches4)  Deliver the best rental product   - new appliances, toilets, vanities, paint, fans, clean the A/C and exhaust vents  - this is your second key to success and less headaches5)  Get a good lease  - I can share mineIMHO, I think MFs are overpriced right now.  

The short term product will then be refinanced into a long term product (Portfolio loan, conventional mortgage, bank loan, ect..) 

@Daria B. a conventional renovation loan can be used to purchase or as a refinance loan if the lender offers the refinance product.

@Steve Sprowls, your current mortgage guy is correct that Fannie Mae will not allow this.Maybe you should find a mortgage guy that also offers Freddie Mac products?

It really depends on the product you're interested in, the immediate market it is in, and your financial means.I'll give you an example: I have a client who had limited financial means (smaller down payment, and was qualified for a low mortgage amount).

And as for being an REO listing broker, the lending institutions decide who to use based entirely on production and success.