I personally would look for private money and would want to have it available for rehabbing.

I called a friend who is a private lender and he said he can try to salvage the deal so we tried to move this deal over to his bank before The Bank’s underwriting could officially decline it.Thankfully everything went well and the deal was officially transferred over to the private lender without an official decline notice from The Bank.

True they have had a monopoly for over 50 years, however, in the past 10 years there has been a small private flood insurance markets and it will continue to grow you can do a google search for "private flood insurance", "Lloyds of London flood insurance" or just reach out to me and I will shop all options for you. 

Hi BP,I have a question about private lending.

Can somebody walk be through how a private loan transaction takes place?  

@Justin DeSantisI sent you a private message. 

My bet is Dallas and Crystal City.

My private money lender wanted me to give an origination fee but I don't have that since I've dumped my money into wholesale marketing.

@Allan Szlafrok thanks for reaching back, I will definitely be sending you a private Message 

If the deal is good enough you may consider hard money / private lender and pay a little more in interest, knowing you will only have it for a short time.