Thanks for sharing, I agree that time and long term investing offers the best return on the monumental investment it takes to  update a home.

The market certainly offers a tremendous pool of renters in the form of students and staff as @Jonathan Greene pointed out.

If you do not have any background check results of the current tenants and occupants, you should consider doing that before offering a new 1 year lease term.

One key insight is that conventional mortgage bonds (mortgage-backed securities, or MBS) made up of government-sponsored enterprise (GSE)-backed mortgages are benchmarked with the United States 10-year Treasury bond, while MBS made up of non-QM mortgage loans (including the all-important ones for real estate investors, DSCR loans) are benchmarked with the United States five-year Treasury bond.

They said it is a no because it is a conditional non-recourse clause.Freddie Mac do offer commercial non-recourse real estate loans.

Hey Deborah, What terms are they offering?

It is an entire program with participating lenders, and the process should be started before you start putting out offers on properties.Read more here:https://www.nj.gov/dca/hmfa/roadhome/index.htmlIf you need funds to close, I would probably suggest starting the process for your 401k loan now.

I personally have used Chase business checking and their credit cards that offer 15-18 months 0 APR.

Good insight Jonathan. 

Don't take offense if they reject your offer.