Right now DSCR is really the main product for STR

What are some banks/lenders that have loan products for development/new construction projects (building from the ground up)?

Brokers can be particularly useful in navigating the complexities of loan products that might fit your situation.Portfolio Lenders: These lenders use their own funds to finance loans and may have more flexible lending criteria than traditional banks.

I was sold the product by the sales rep that it was full functional accounting system but it's not.

Or use a trim like Azek that is a PVC product, and caulk the heck out of it.

I'm assuming since you're on Long Island that you'd like to remain near your current property or go further East.If you end up selling your current place, I'd recommend looking into areas that have had the most recent multi-family sales.

@Spencer Elliott The Big problem here is the Risk.  1st Build, now if we can see that he has plenty of experience working with a production builder and how on his own.... that may work.Typically lenders want to see 3 homes built first before they will extend credit.Now His Bank should be the one lending to him, but why are they not??????

The extra bedroom May increase interest in the property, but when people actually walk through the house and see how small the room is and that they will have to go to the garage to do laundry I do not believe it would help the sale in most cases. 

This is in conjunction with an earlier post regarding the sale of my property in Chicago and the purchase of a property in the Indianapolis area.

While the $135K note qualifies for section 453 installment sale treatment with the gain spread out during the payment period. 1) Is my understanding of this transaction correct?