For anyone with experience long-distance, do you prefer using a local mortgage shop or big bank?

Also good tip about the clause in your lease so they don't turn the garage into a grow farm or a mechanic shop. 

The units themselves look good: kitchens, bathrooms, garaged, in unit washer/dryer, central AC, a little yard, within a mile of shopping.

This is not surprising, as people are also earning a very good income in plumbing supplies, accounting services, and smoothies shops.  

Best of all - it is very inexpensive and available at a local shop or online called Wisconsin Legal Blanks.

Just my guess...Imagine if you owned a sandwich shop, and you are deciding to sell it or not? 

The thing with Jumbo products is that each lender can make up their own rules - which result in a variety of qualifications that vary from lender to lender.For your specific example under today's conditions (8/8/2022), a $3M Purchase Price at 20% down will get you the following: - With a 740 Credit Score: 6% interest with about $200 of lender credit ($6000 in lender credit if you have an 800)- You will need 18 months of reserves (PITIA of the new property x 18)- Likely 6 months of reserves for the departing residenceLike others have mentioned, you should shop around for Jumbo products since some lenders have opportunistic terms that are dependent upon their investors at the time.

Purchase price: $500,000 Purchased a ski shop in Angel Fire, NM.

Investment Info:Retail commercial investment in Angel Fire, NM Purchase price: $500,000Purchased a ski shop in Angel Fire, NM.

Talked to one lender and they said I will need at least 20k to start shopping properties.