I do have reserves to cover contingencies.Let's just say, I'm satisfied with those numbers.Had I had to use a bank, I would have had to put down 20% for $33,000, plus closing and my payment on the remaining would be $1400 PITI including HOA. 

Quote from @Brandon Croucier: 12 or 24 Month Bank Statement is probably the best bet.Where would I get one of those? 

I also also co-host a weekly Zoom Q&A on MTRs called MTR Office Hours in a Skool Community.This is why I tag you into questions like this.

Aunt/Uncle have a property maintenance company in Brainerd that partners with my PM, Cousin works for the local commercial bank, things like that... 

Head over to bank rate or and take a look at the mortgage calculators, plug in the numbers and get an idea of what the property needs to generate to satisfy the intended debt.You still have to underwrite the deal for the non-finance expenses as well(typically 40-50% of the gross rents). 

I bout one in 2019 and it has turned into a gem for me, but at the time, it would not have been 1.25 1.25x is a very common DSCR for a bank.

Would I go to the current owners bank to see if they would allow a subject to loan? 

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

But I will say from the feedback we've been getting from hosts in the Smokies, make sure you run your numbers good and know how to stand out in a heavily saturated market.

The location all in,cost him X; he got an appraisal for the bank from CBRE national firmof XX and now the firm who called him mentioned paying XXX.