That product is not commonly purchased in residential loans away from newbies.  

All they do is lending on real estate, and have lots of different programs and products.

There are conventional products for 3% down.

Posting a thread like this will attract all the providers and they will try to steer you towards their market and product.

My goal was to place a Semi-premium product to the market place.

This is good, but I imagine it is very slow...and while the legal process is grinding along, roofs are caving in and some properties are surely passing the point of no return.

Been trying to get more information from the realtor been a slow process starting to sound like to was to good to be true but we will wait and see.

Good post, I agree with you, i do believe a correction is coming, but with investors now having to put more skin in the game and not being able to drive up prices like they did years ago with no money down products and loose lending requirements, i dont think it will happen this year maybe 2 or 3 years down the road and that also depends on what region you are talking about, we didnt really feel the crash out here and we didnt experience the double digit appreciation either , i wasnt thinking of selling when i refinanced, a few months after i did it, my tenant moved out so that got me to thinking about changing my goals, i was in a 6.15 30year loan still paying pmi, so the fixed 15yr @ 4.375 was a better deal for me, and yes counting on appreciation is not good because its not guaranteed, i may end up keeping it because I like the idea of having it paid for in 15 years.  

The town still seems on slow decline but home prices come up a little may be form the overall market boom anyway but sill some deals seems very tempting.

I have basically used my income and savings to fund these deals plus the holding costs, and even though I can take my time and have the rehab/s completed at a leisurely pace or so, that is the slow-slow approach and isn't quite the plan I had in mind from the beginning.