@Erin Onsager one solution I've used, and I know some other local investors have used here in Rhode Island (and likely all over), is to try to find off market deals where you can do creative seller financing, which is often at better rates/terms than you can get from banks.An alternate strategy is to try to raise private money from friends and family, again this is often at better terms than banks.

A lot of my clients applied for and received Obamacare subsidies, only to learn at tax time that they did not qualify and now have to repay thousands of dollars for what they thought was a cheap government insurance.A popular alternative to traditional health insurance is a ministry-sponsored health-cost sharing plans.

Of course, I realize that money pays for schools, infrastructure, and government employee payrolls and pensions, so, carving out some of it for lead/asbestos abatement is not very realistic, hence, my reason for posing an alternative solution in the form of tax incentives for small investors to take on properties with those issues, but, good to hear that Cleveland is already doing something like that.4.

Far less expensive than the alternative.

You need to have your plan, multiple alternate versions of how your plan will still pay in the face of difficulty, and essentially that you know exactly what and how you are doing. 

Alternative would be non-QM where if rents cover PITI then the loan is approved, minimal doc requirements (credit report, appraisal, bank/asset statements, lease agreement, few others) but your rates are non-QM (6 to 9%). 

Another alternative it to try to find someone in the Central Valley or south of Gilroy.

Get that education about alternative ways to finance, then use that information to make deals that work for the seller and you!

@Jaysen Medhurst thank you for your advice, any suggestions for alternative financing options

I’m using cozy for now but looking for an alternate payment method.