I own a local property management and real estate firm in Poughkeepsie and I’m an REO broker.  

Talk to a mortgage broker who is familiar with the product.

Any recommendations on Real Estate Broker, Contractors, Lander, Lawyer?

. $600k seems high, but I’ll be reaching out to commercial brokers tomorrow.

Timeline:Property 1 Purchased Jun 2016: Purchased for 5% down @ 255k, refinanced about a year later at @ 325k with some minor renovations completed, and got a HELOC Oct 2017 for 20k and had 20% equity in the property vs 5% when I had purchased Property 2: - Purchased in February 2018 for 192k and had it reappraised in March/April for $222,500 - This was super low based on comps and I asked for a review based on the brokers opinion of value as well and he said he could not review it- After this the lender informed me that he could not even do the refinance with the appraisal because my DTI was off- He recommended waiting a year or so until the rents from the new property show up on my tax return and to pay off some debt for the ratios to start working in my favorMy realtor provided me some provide private lending info who were able to offer NO refinance on property #2 but they could do a mortgage on a new property we were looking at for 20% down, & 10% interest.I did not have 20% ready to go as I was banking on the refinance for at least a portion of the funds and had to turn down the offer.Curious if anyone else has encountered these roadblocks and If I need to wait or if there is something I can do. 

My logic is telling me that either I call brokers and property managers, or I determine what cap rate I am comfortable purchasing at and find properties that fit those parameters.Thank you for your time and look forward to the advice, Sheldon

Before you make an offer, contact your title agent partner to run a search in advance to find out what all my be going on internally with the seller and the property.   If there are a bunch of liens or Lis Pendens , t...

(For the record, I receive not one penny for my recommendation; I'm just satisfied customer and a fan!)

This happens often with brokers that get a lot of reo inventory that is not HUD or FNMA as they have systems in place. 

Listing contracts are the brokers so if it's an agent issue then the broker can assign a new agent in their firm.