All buyers have a different risk appetite. 

There was excess proceeds and the court could not figure out what to do… I kid you not

It definitely didn’t help the situation that my team members shared my excess empathy.

We would loan in a % of the money then in the note we had an interest rate of course then a % profit split in excess of the mortgage amount and the base note amount. 

Call them up, ask to speak to their loan department and ask them what their appetite is for smaller commercial apartment buildings in the 6-8 unit range.Good luck.

However while it sounds like your CU has an appetite for helping you do 100% levered financing you should do as many as you can before they come to their senses :)..

Things that will be an issue for the Builders Risk:- some living there during the reno  (that is a very tough one)- prior water of fire damage claim (many regular companies will not do this so you may have to get coverage in the Excess/Surplus market (Lloyds of london, etc...)- delay in the start of construction (you may have to insure it as a vacant dwelling then switch to the Renovation Builders Risk when you are Ready to start)

@Chris MorrisThat seems extremely excessive I would say $5-$10k at most

This would all be in an effort to avoid excessive calls or people showing up to our showings that are not good renters.

I've been working my way through different institutions and this seems to be a strategy that isn't generally accepted if the loan is in excess of my DTI.