I'll give you one that tested my soul.I had to evict a young mother for non-payment.

Underwriters have to hang their hat something tangible to overrule accepted guidelines...and that's what you're doing...asking for an exception to the rule.If you can give them "improvements" with receipts as the pin to hang their hat on...you have a decent shot at them waiving the seasoning rule.Other than that ....I can't think of any legit way...

The law lingo that goes along with getting a property that your able to flip to another investor is impossible because banks don't accept it.

Of course you would say no to an investment that only produced a 5% COC.What is an acceptable COC you ask?

I am waiting to hear if the bank accepted my offer for a foreclosure (this is my first one).

This reminds me a little of a challenge that Robert Allen (book writer ex neighbor of mine) accepted to go to a town with no money down and buy a property.

Do I return the portion of rent I received and demand the full amount or accept it?

- How difficult is the test?

Are they just testing the waters and don’t really need to sell?

Assuming that the NOI is correct, here is how I see this deal:Monthly NOI: $33,500Mortgage (30 yr, 7%, $3.75 Million): $24,950 per monthCash flow: $8,550 per monthWithout knowing what the number of units are, it's hard to tell if this is an acceptable deal or not.