Fannie Mae/Freddie Mac guidelines want you to keep your Debt-to-Income Ratio (DTI) at 43% or less (you can actually go a bit higher, but that's guideline).

In general those Fannie Mae reverse mortgage foreclosure deals, like the Skyway project you refer to, are generally listed at below market value.  

If you find a good GC that'll give non-garbage numbers for hypothetical work on a hypothetical property (if such a thing is even possible), please pass their name my way.In addition to 203k, there's Fannie Mae's HomeStyle reno option.

Although these can be quite lucrative, these assets don't meet the risk and cash flow criteria of us or our investors.Fannie Mae/Freddie Mac loans are attractive for stabilized assets because they are non-recourse and reduce your aggregate risk, but there are drawbacks if you are looking for shorter or more flexible loan terms.

The fannie mae rule is 75% ltv or 100% HUD whichever is lower.

USDA is very similar in underwriting to Fannie Mae except to loan limits so it is not as detailed as FHA or VA, appraisal requirements are not as stringent but high LTV they will be as particular.

Big thanks to @Mike Martin Who suggested we look into a little-known loan option called Fanie  Mae Homestyle.

But it would have to be a lot of people.I think a bigger effect though would be making sallie mae a not for profit institution.

Also Equator with Fannie Mae.

@Kim Martin is the mortgage currently owned by Fannie Mae?