Will the owner need to be at the closing our is the lease option contract enough to complete a conventional loan, not having to deal with the previous owner at all?

The most laughable part about this exchange is that anyone who would want to owner-occupy would be seeking conventional financing, which means that they couldn't use this LLC sale disguise method that he suggested.

Why would you go to a portfolio/commercial lender to borrow on ARMs at 5%-6% interest rate when you can borrow the same amount of money at 5% fixed for 30-years from conventional lenders?

I mean expensive non-recourse loans; No conventional financing for SDIRAs!

If your eligible for financing now with a conventional their commitment should be enough for a hard money lender to accept that your exit strategy is strong...it would be expensive for sure however it would meet your goal of acquiring the property and covering the additional 10k your

I'm looking to buy some properties, but instead of getting a conventional loan I'm looking to get a line of credit so I can be a cash buyer.

It is the option to refinance to a conventional loan.

I was under the assumption that with a conventional loan, I could sell it after 3 months of closing.

What I am looking at is the appreciation in the property and the ROI. there is such a low inventory in this neighborhood I don't think selling it will be a problem.

Mortgage financing will assume a 20% down payment and a 30 year conventional fixed rate.Final approval will be subject to all necessary verifications and an acceptable appraisal.