I consider this option.

Round Rock itself could be a good target with older homes (for the suburbs) and multifamily options.

Hey Jason thanks for the reply I’m actually looking for this type of loan to do a fix and flip, also right now my credit is under 600 which kind of excludes me from the majority of lending options.

I am a real estate agent and investor based in Columbus, Ohio.  

Check out these links:Here, here, and hereBut these aren't helpful as you are looking at options for unpermitted work, so don't expect leniency in not only approval for something the city is merely trying out, but also something that was already completed without any permit approvals whatsoever.My advice is to skip this deal.

Screening criteria should be applied consistently to avoid discrimination based on factors such as race, gender, or familial status.- Peace of Mind: Knowing that your property is occupied by trustworthy tenants who have undergone rigorous screening provides peace of mind.

I am very early in the process, seeking designs and exploring funding options.

@Sendhil Krishnan Great post, very accurate based on my experience thus far on the same path to our first RAL.

As Lindsey mentioned a DSCR loan could be a great option to fund this property if it is for investment purposes only and you will not be occupying it!

They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.