I have personally not worked on any of these but it does not seem to be anything too crazy.It's an FHA Loan that can be combined with other FHA products like a 203k.I am a Loan Officer for "Correspondent Lender" so I can operate under the rules of over 100 lenders...I would be able to place this in a few hours with 1 email...We would just have to make sure all the boxes are checked...Energy Efficient Improvements Must Be Cost-EffectiveThe financed portion of an Energy Package must be cost-effective.

U know the ropes and are organized and methodical at the time I was making 20 loans or more a month to flippers in Jackson and simply could not be bothered to follow this stuff LOL.. 

To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.

this was a regular conventional loan.

The pros: - not having to do a major renovation from out of state- easier to get a conventional loan since the house is livable vs. a distressed property (would need to pay cash, do a hard money loan, some other type of financing)- can get a tenant in quicklyThe cons: - you don't know how good the renovation is, could be cosmetic without addressing underlying safety issues (plumbing, electrical, foundation, etc). - a home can pass an inspection but once someone is living in it and putting daily stress on the house (turning faucets on, light switches, turning on heat/AC etc), things can start to malfunction.

A bank will give me a loan (if its ARV is good) and I can use that new loan to pay off the original home equity, and buy another home plus pocket the difference?

From my understanding it might have to be a personal loan, which is very expensive. 

Lenders are seeing near a .50 basis point improvement in multi-family and mixed use loans this week. 

DSCR loans are really not ideal for first time investors.

I can some up Western Wealth Capitals financial problems with Three words:  "Variable Rate Loans"!