So I was thinking....does PMI/MI seem a bit ridiculous...I'm mean...tacking on an additional 300/350 bucks a month to do nothing but protect a lender of default from the borrower...Hear me out...your already qualifying for the loan...if your DTI and FICO support you getting debt...then perhaps something other than LTV should negate PMI/MI...maybe set the guidelines at an 800 FICO and no PMI/MI is warranted...dont you think this would "open the door"...pun intended...to price points that would otherwise disqualify a borrower because of payment with the additional PMI/MI included in the payment...HOW CAN THIS BE CHANGEDJust a thought...what say you??

Hard money loans buyers defaulted because tenants did not pay or lending dried up and they could not refi and I had to take them back.. 

I was a big fan of the Notice of Defaults or NOD list that a county publishes when I first started. 

If there is ANY way your sales agent can submit an addendum or at least formal request for ALL rental documents, without putting you in default of the contract, I would immediately do so.

This way if you default, the first 25% of the loss on you, and they can usually recoup their money from forclosing on the property and selling it. 

They understand the risks on the investment side, and also know my financial situation well and are not worried about default as much as how making this loan could impact them in other ways - thus their questions.Understood on tracking the balances - is an "official" document I need to give them so that they can report the interest income for tax purposes.Thanks again! 

I've specialized in default for 15 years so I always start getting these seller calls before the masses catch on. 

I'm not saying no one will do this type of loan, but I'm explain why looking at it from a lender's risk perspective could help you look for another alternative.Another reason, other than being over leveraged, is that a borrower that is not well positioned with capital is also at a much higher risk of default.

@Brian Falconby default, any sort of "business activity" that you so is a sole proprietorship. 

For instance in FL, if I lend to you in your personal name, even with the proper B2B purpose loan, and Non-Primary Residence disclosures, and you default, if you claim that it WAS your personal residence and you were not clear about the disclosures, the first thing the judge is going to do is look to see if I as a lender met all the stipulations and regulations concerning consumer loans, such as CFPB, Section 32, and RESPA requirements.