Next agent, I'd discuss your intentions a little more and see what they think.

Please help us pressure out any folks here on BP with bad intentions or zero integrity.

I think by the time I asked for an extension he probably assumed I had no intention of following through with the deal.

I get that I'm still on the hook for any money I sign my name to, and would never intentionally do anything to compromise my word, the deal or my name but...well to be frank....**** happens sometimes.Looking forward to everyone's input.

Intentionally blacking out enough information so this snip is compliant with both BP rules and federal regulations, for educational/illustrative purposes only, not an advertisement and I'm not licensed in your state anyways:You can see the PMI that scenario would be 0.19%, but the bumped rate for the "no PMI!"

If you insure your loan through CMHC, any bank can go down to 5% cashdown, but you need to have the "intention" to occupy the property.

They're bringing the money to the table and we're bringing the sweat equity.The intention is to buy and hold rentals for "the long term" but neither party has a clear goal or timeline for selling - except that selling is most likely to happen eventually.

Others will know more about the agency loans than myself.If it's a value add opportunity, you can always try to finance through a local bank with a recourse and then after you have repositioned the property, refinance to an agency non-recourse loan.Regardless, I don't think the recourse part should turn you away, unless of course you have malicious intentions.

It is hard to model properties without this basic understanding, of course.I am a buy and hold investor, so the position I take is with the intent of keeping the property. 

Hey BP,I was thinking about where I wanted to eventually settle down after leaving the military and got to thinking about purchasing a non-performing note with the intent to owner occupy.