You could have been a landlord in LA and have been stuck with non paying tenants for 2+ years. 

Here's the New Jersey law regarding security deposits:https://www.nj.gov/dca/divisions/codes/publications/pdf_lti/... 

It seems from my experience so far with most lenders ,they will roll back in depreciation expense to find loan eligible income but that is it. 

Also some lenders will offer this on newer originated loans.It’s not common but I have seen it offered on occasionIf there is a higher default interest rate then I would consider it but if it’s the same rate as default I would not accept it

The broker might also be able to recommend some lenders that would help you with financing.To your other question about the type of financing, it would depend on what you plan to do with the property once you have full ownership. 

We have a few lenders in our network that cover MO who can help.

Work with a broker or lender to find the best loan for you.Good luck!

Although there are tons of student rentals, there arealso  tons of post-grad students, resident physicians and other faculty and staff (not to mention the non-UI demand) that make great renters for multiple years. 

Definitely can do non owner oc investment property build with 100% of the construction covered since you already own the land .

For a new property, lenders check your income, credit score, and debts.