I just got my pre-approval and looking in these areas.

The last hurdle was getting approved for a mortgage which normally would not have been a problem.

There are a few different issues to consider here.One key issue is the timing, getting mortgage approval, and another issue is the overall cost.If you are looking to buy a house to live in right now, then getting the 5% down payment might be worthwhile.

So I went round and round with the City council and they finally approved the larger lots and one of the City council members said he does not understand then why we have zoing at all he was not happy.. 

BZA is backed up five months so it takes around 6-8 months to get a building permit if BZA approval is required.

If you find yourself in this situation, the lender will most likely require other items in order to determine qualification before approving you for a mortgage.

Coming to commercial lending, can I do refinance as normal property or getting approved for commercial lending is difficult?

You can get a pre-qualification or pre-approval from any legitimate investment loan originator once you have a deal.

Some lenders hand out pre-approval letters like candy on Halloween.

In general, it feels a bit unfair to charge you a full new lease fee after 3 months, for allowing the tenant to break the lease w/o your approval/consent/knowledge.