This is strange because a property is rarely equally good for both.If you can flip and make $40k or buy and hold and clear $4k a year in profit then it is clearly a flip. 

@Wesley W. this is a strange turn of events, isn't it?

They have me hooked to the idea, but before plunging into a semi strange finance commitment I would love some beta on the topic.

I have enough cash flow with multiple paid properties but just want to ensure I’m not really doing something strange.

Originally posted by @Kyla Bakker:-they own businesses but don't pay taxes -the unit is for their daughter (who we believe is in highschool)-they want to pay cash -they want to pay for the full year up frontLOTS of CASH with no taxes (strange excuse for tenant who will occupy) plus pay a year upfront in cash.Makes me think indoor illegal farm or drop house for illegal whatever.If it were mine, I'd say:If Ontario California; No.If Ontario Canada; No, Sorry.If Ontario Anywhere; NoGood Luck! 

It sounds strange but lenders are allowed to put rules OVER the Fannie/Freddie rules...we call them OVERLAYS in the industry. 

The house breaker box never was thrown either, which is very strange.

I was recently fined summons that a 4 family unit that was built in 1952 with 2 electrical meters must have 5 meters for each floor including a landlord's meter, 2 additional boilers, 2 water heaters etc...The strange thing is the home has been in the same condition since it was built, no modifications and the utilities have been in our the landlord's name for over 10 years. 

The layout of the condo is strange where the hotwater heater is located in the garage (which is deeded to another unit(unit 3)) and the water and HVAC system are located in a utility closet in another unit(unit 1).

Even the one that it was just one of those strange things that got patched along they way is possible, but doesn't that thing look extremely deliberate?