You will still own that loan and personally guaranty that loan.

Assuming this is an investment property, keeping track of your expenses and income in a separate bank account (not personal) and ideally holding the property in an LLC 

Now personally I would never have taken a client there without a written agreement between you and me, If you are not paying a buyers agents commission that's fine and your choice.

One person is extrapolating out the depths of the inner city to the entire market as far as long term viability for investment, when the other person is actually considering A/B neighborhood buy and hold. 

The council person is pushing for developments in the area and so they location as a whole is pro growth. 

Make sure whatever brokerage you go to allows you to have a personal deal.

They wouldnt do the deal because I don't own my primary residence.... seems odd to not lend on a 1.4 DSCR property700+ creditI've been a landlord for 6 yearsThis is my second BRRRRMake $100k per year.I dont own my own residence because I moved from Pa. to Fl. and am renting until I find an area to live more permanently.Luckily the asset and my personal finances were enough for other "asset based" lenders to do the deal, and Lending one lost out on future deals.

So it could end up being a drawn out legal battle that I wouldn't want to be involved in as a renter living there personally. 

They'd be able to give a lot more personalized advice versus what you might find on public forums such as these.That being said, there's a variety of strategies you might be able to employ.

I have seen it personally over the last 20 plus years of funding deals in those cities I spend time there I see it..