My experience has been, these "First Time" or "Income Restricted" Loan offerings by various State and Local Agencies are all done through a Typical Lending Company (Mortgage Banker / Mortgage Lender) that has qualified with the Agency(s) offering the program.For Example, if you met the criteria for a "Texas Vet Loan", and were qualified for the program, all the processing and workup of the Loan package will be completed by Blank (Generic) Mortgage Company.

Yellow legal pad, and then I start running the numbers.  

One quick follow-up: Does this include personal legal fees prior to starting the official process?

But he has a lawyer now and states that because I sent him a lease extension before the Notice to Vacate, I'm legally bound to continue leasing to him. 

Mortgages have a "due on sale" clause, which means the lender has the right to call the loan and demand full payment of the balance if the property is transferred to another person.Whether or not there are ways to legally get around that is above my pay grade, so I would advise speaking with a real estate attorney before proceeding.

Is it legal?

April Stewart Landlord Legal Inc.If you are in your learning stage it is imperative that you learn your RTA and study the operation of the LTB.

Eric.If they are 5 legal units then it is a commercial property and can be appraised based on the income it produces. 

Your specific lender may have other stipulations/restrictions on the loan, so you'll want to read the contract.

Additional restrictions may apply.