There are financing options for self-employed borrowers in these sorts of situations, but they require a higher down payment than FHA.

Here are some tips to help you get started:Real estate requires a strong network.

I am curious if the fees I am being presented are in line with market norms:lender app fee: $10,000Origination fee 1% ($20,000)Lender costs: shows a fixed amount at $10,000processing fee $895registration fee $10,000Title and escrow fees: $4,000 est.6.5% rate fixed at 10 yearsPrepayment Penalty: Yield Maintenance months 1-114 (1% minimum)Third Party ReportsApppraisal Required Engineering Required Environmental N/A Seismic Report N/A Market Study N/A Funded EscrowsReal Estate Taxes Required Prop/Liability Insurance Required Special Assessments N/A Ground Lease N/A Replacement Reserves N/A Required Repairs TBD Debt Service Reserve N/AWould love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program. 

They do require that a permit be acquired (super easy) and hotel tax get paid (a little more complex but there are ways to make it easy), but otherwise there are no regulations to speak of.  

I've seen a few houses that list as 3/2 requiring substantial rehab, but could probably become 4/2 with the right plan. 

Many require RFPs from the prospective landlords.

Ultimately the lender will require a personal guarantee from the borrower unless the property qualifies for non recourse financing (which is rare and generally applies to larger transactions than those contemplated or executed upon by BP forum posters).

I would be hesitant to say its not required in Alaska, Mike.

When I wholesale a deal I require the buyer to pay all closing cost.

We don't require Saturday to Saturday, but do encourage it.