Is there a Bank or CU that can help me?

The loan officer from the bank said he needs to know when FedLoan will report the payment before being able to provide me an amount.

The tricks are going to be finding a local community bank that will allow you to do C/O Refinances with a 75-80% LTV and buying deals where you are all in for less than 75% of ARV.

Under that same description you will also find lenders that will approve you based on bank cash in flow, if you are self employed, rather than your net income on your tax returns. 

If your using financing the bank requires this.

You or your agent should let them know you are patient and are happy to sit tight to see what the banks valuation is and if the short sale works out for you.

A few other banks I have talked to have all told me the same thing, 25% down for multi families.

Are you prepared to investigate where your tenant works and/or holds bank accounts so you can start a garnishment? 

Unless vets are considered to be so special that credit scores do not matter a 500 score will be no where good enough for any conventional bank loans.I would rent, with luck you may find a mom and pop landlord that does not care, then work to repair your score over the next couple of years.  

I am in the Chicagoland area trying to do a BRRRR Strategy and having some problems with the lender, First Midwest Bank.