It is like a blended fund 

Ask for proof of funds and a SS award letter, or a bank statement that shows the amount of her SS.  

Neighborhood is full of retirees and has no rental comps....doesn't sound like a great place to buy a rental investment property......and Zillow estimate is WAY off from your desired rent and in a bad way, so even factoring in some "leeway" for Zillow being off, its not even in the ballpark of what you need..... so going to be hard to convince me this is a good buy...unless its a buy and flip, but based on your numbers it doesn't sound like that's any good either

The property is in a distressed situation and would definitely need a remodel to sell for retail value (we might have to move some walls around to make the property more desirable). the property is around 60 years old with 995 sq. and around 400 sq unpermited on top of that and there is a mortgage of around 255k on it.

Ideally (assuming) I have 250K that I would like to borrow 2 million and show my 401/IRA funds for reserve, is this scenario possible or is the bank right?

thanks @Joseph M. everything almost back to normal here.well from what i can tell the market has slowed down a bit, a lot of damaged property, i've seen 10-20k discounts in some desirable areas for SFR but that may not offset the damage

Factor in carrying costs, then throw in some contingency, then a just in case fund, and pretty soon you'll convince yourself the bank couldn't give you the property for free!

For the first time this year bank-owned property sales saw an increase, up 7%, with 147 recorded for the month compared to 138 last August.Investor purchases accounted for 19% of all home sales in Shelby County with an average sales price of $74,898. 45% of investor purchases were made by out-of-town buyers, with 38 properties purchased by CSMA BLT LLC, the leading hedge fund owner in Shelby County.Following is a breakdown of August home sales by municipality comparing 2017 figures to 2016:Home Sales by MunicipalityMunicipality#of Units SoldAvg.

We are raising funds to help our neighbors anyway possible.

I was being told that in order for the VA to fund the duplex, the individual taking out the loan has to qualify for the full amount of the property price themselves.