@Hugh O'NealeBased on the context above, you are unlikely to need to worry about running afoul of SEC or Reg D guidelines.

They have their own underwriting guidelines, so if your deals are good, credit is strong, DTI stays reasonable, there's nothing stopping them from writing as many mortgages as they want for one customer.

Looking forward to hearing from you.MT I am not a huge fan of it unless you have a trusted team set up.See more here:Why the BRRRR Method is a Risky Gamble for Out of State Investing

On a related front, a friend of mine is in the same position, and also getting a conventional home loan now incidentally, so I'm pretty sure Banks using Fannie and Freddie tightening guidelines won't want to see an SBA loan pop up as he applies, which begs the question: how do we allow quasi Gov standards now imposed to condemn people based on direct effects of a Gov mandate?!

@Brandon Ribeiro USDA loans are pretty big where I live in York, Pa but they have stricter guidelines than most loans.

It does have to meet self-sufficiency guidelines, but that should help you qualify for a larger mortgage.

It's a modern day equivalent of the wild west...oil, whiskey, gambling, rattle snakes, prostitutes.

I don't have any lender recommendations for you,  but it sounds like you might be running into the 6 month guideline for a cash out refi.

Thanks Brad and Nick that is the guideline I am currently using appreciated.

the underwriter can determine if it meets the guidelines, and therefore count it as reserves?