Non-QM are Generally about 3/4% to 1% higher than Conventional rates, but that really depends on the program, your credit score, LTVs, occupancy status, income documentation type used (if any)...and the list goes on.

Current rent is last on that list. 

Either the seller or listing agent has likely been burned by Easy Street. 

If a property is listed in Tarpon it is illegal.  

I can help in that department if you want to list properties.If you wanted to connect sometime I am happy to grab a coffee.

So, if a broker came across this as either their listing or as an existing listing and had access to investment capital, they could buy out the equity position or one of the equity partners and structure the above transaction.

The listing broker is going to try and sell you on paying a price that makes sense given the projected or proforma rental income, a dynamic that is the equivalent of how the listing agent on a SFR might try to sell you on paying a price that bakes in future/anticipated appreciation, or "look at this home's potential!" 

@Sean A Lewis the only way to know if you can get your money back from a loan is by talking with a loan officer.  

Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

It took me ten years to talk my husband into buying a property that we could house hack.