I've never "stolen" a property from a home owner - in fact I've paid market value on all my purchases, but 100% VTBs, and unsecured downpayment loans from the vendor are just not possible when working with agents. 

Hi Melanie, depends on 10 yr note, could continue to go up slowly for next 30-40 yrs as it has done between 45-82 or 1890-1920, or down for 30+ yrs like 1920-1945 or 1982 until 4 yrs ago, if they have 25% down and long term fixed rate debt ( just got a 10 yr loan at 6.95%) and Cap rate >150 Bp above debt rate, they should do fine-assuming good local market, even if value drops 20% short term, it will recover longer term and should be ok.

You are just getting cold feet after finally winning.

The house was appraised for 400k, he refinanced 70% so he got 280k loan. 

Likely 5-8 companies that UW loans in this market. 

I'm currently looking for another muliy family using an FHA loan, but starting to realize this may not be the best use of my money if I want to build a bigger portfolio.

Matt,Do the numbers work for a DSCR loan? 

Then they stop paying altogether, I have to send one of my representatives to court and after 2 months the whole debacle is finally over and they are gone.

The sellers interest is the interest and transactional convenience, when a lender is involved there are costs associated that can often be rolled back into the loan provided the loan to value (LTV) based off the appraisal is sufficient. - Higher rates.

Experience and your track record of past completed renovation loans will be taken into account.