I have  a peculiar situation.

Through a construction and purchase loan with a hard money lender.

If the government further tampers with the situation in any way, the problem will only be exacerbated. 

Will this work on a conventional loan in California?

I asked him why, and he said after many days of review, he determined that after all the fees related to the new construction loan were factored in, the true return was less than the advertised pro-forma.  

When you say pre-reqs, do you mean in terms of qualifying for a loan?

Hello all, my wife and I purchased a property with a FHA 203K loan.

Your key considerations include loan approval, property management, market research, legal ownership, tax implications, and an emergency fund.

Yes it does exist, but on loan amounts $1 mil or more for a Freddie Mac SBL loan.

@Namit RaisuranaDepends on your preferences and situation of course, but seems as though you've set up a fairly complex structure with somewhat pricey ongoing maintenance costs.