In such situations, a bridge loan to rehabilitate the property followed by refinancing becomes necessary.

Her loans are a VA and fha loan.

For example, MEP plans are not required for permitting, but if you are designing a complicated house, having a MEP plan certainly helps to guide the trades to know exactly how and where to install the fixtures, versus something they have to figure it out impromptu in the field.

I found a bank that will give me a loan against the note.

I have clients looking for lenders that don't require as much information to be submitted to be compliant with loans.  

I have a very odd situation:I basically bought a house for a friend of mine about a year ago and gave him a 5% interest only loan for the entire purchase/closing/renovation costs.Both he and I would like him to get more permanent financing.But, he does not have a social security number. 

It effects every aspect of the property and performance- the type of loans and insurance you need will change if you don't hold the property in your personal name. 

DSCR loans can be expensive because of points, etc.

Here's some guidanceon finding your first deal:- Define Your Criteria- Explore Financing Options: Withyour budget for a down payment, you have several financing options to explore.Conventional loans typically require a 20-25% down payment, while FHA loans forowner-occupied multifamily properties may allow for a lower down payment,around 3.5%.

Finding: open for conventional loan.