Because NON-QM loans don’t have such requirements, they are ideal for foreign nationals who are in the States on a visa and are looking to invest.

I've started paying more attention to applicant's charges/issues, rather than the level of the crime (misdemeanors/felonies).A recent applicant was upfront and admitted to some past issues in his background that were "nothing serious." 

Run an application on him (similar to what you would with a tenant).With 20% down, he should be able to get conventional financing on a primary home so why does he want the owner financing?

.📄 HELOC applications can be open for a good amount of time!

Build a strong criteria and screen every applicant.

See instructions to Part IV of Form 3520 for more information.Reporting RequirementsYou are required to report the receipt of foreign gifts or bequests only if the applicable threshold is exceeded.

They have been receiving applications but of those, he only approved 2 applications.

If I were in your shoes I would explain to your tenant that anyone not on the lease cannot reside in the property long term and inform them that the person will need to go through your application/tenant screening and if they meet the requirements they will be added to the lease.

The best way to avoid having to source where the funds came from is to deposit them 3 months prior to the application. 

For actually sending out letters, input everything into excel, and then use microsoft office's "mail merge" feature to merge the applicable house / contact information into your letters.