If they want to pay more than 40%, make sure it is by wire transfer from a domestic bank. 

My usual go to bank can't finance it because the contract isn't between myself and the actual seller.

Also, you avoid bank junk fees.

Has anyone dealt with AMG banking?

@Russell Brazil @Lesley Resnick @Jason DiClemente @Kerry Baird @David Fernandez@Karen LindstromLiberty Bank Good Neighbor Program in CT offers rate discounts.

I bought an REO for a great price, rehabbed and had it rented for a full year before the bank would even look at it. 

There is a local bank who can loan on this.

And if a big bank won't give me another mortgage (no idea yet..), are there alternative options? 

Decide for sure what your exit strategy is and have a backup plan in case something changes like interest rates going up or banks stop lending.

depends on location, in a city they should be within .5 mi, in a suburb 1 mile and rural  5 miles but unique properties can be stretched further, I have done thousands of BPO's for banks, the rules were 3 listed and 3 solds, within 20% speck and similar condition, and make appropriate adjustments for differences, there is more art than science to it.