It had a long history of no payment but it has had approx 5 months of regular payments. 

So this would just be a regular cash out refinance.

@Jane Jones Your best case for negotiating the rent down is to pay the $50 for the background check/income verification check and let them see how qualified you are.You have to understand that PMs deal with tire kickers on a regular basis and they have an application process for a reason.

My mother is a realtor who is nearly 60, exercises regularly, but wouldn't stand a chance in any sort of hand-to-hand combat.

Bought a white-picked-fence forever house while in involved with a biz startup, had a regular job and nice schedule, but soon needed more excitement.Now manage a lakeside tiny house development, involved with property management, association management, real estate sales, social marketing and basically my little LLC owns me> Argh!

I typically stay in the regular forums and have content there by answering questions.

I consult regularly with my clients on the use of the 401K and IRA funds in real estate.

And a lot of these brokers call them on a fairly regular basis asking if they are thinking of selling.  

There are advantages and disadvantages to both approaches.Equity participation in a flip transaction is considered a trade or business activity, and if your plan will conduct such operations on a regular or repeated basis, you will be creating unrelated business taxable income (UBTI).  

Marc M.This type of activity would be fine structurally, but would expose your SDIRA to UBIT if you conduct such activities on a regular or repeated basis.