The main benefit is you don't have to deal with bank underwriting/approval and typically need less than 20% down.

His plan is to build a spec home on my lot, sell it within a year and pay me off.I asked if I would be in front of or behind the bank ... and as I thought he'd say ...

I am self-employed, so I was hoping to get a No Income Verification style loan (at least that's what it was called last time), where they look at your bank statements to make sure you have enough coming in to cover the mortgage, taxes, insurance, etc..Basic stat's are as follows:-Income roughly $5,300/mth in deposits (minimum)-No car loans-Current townhouse has been paid off for a few years-Have a couple commercial properties (one in my personal name ($300k ARV) - just purchased in June 2018, the other one ($300k ARV) owned in a corporate name for 3 years).

Your bank is not going to assist in a fight with a provider.

I want to upgrade the unit but not break the bank for something so small.

I own a commercial building and one of my tenant is a local commercial bank.

Since this is the first time I've re-fi'd any rental property is this better then a traditional bank who gives up to 75% of property value?

Delayed financing exception should be an option with almost any national and / or regional bank. 

You need to know if the buyer submitted tax returns, W-2’s, bank statements etc.Realize that an fha buyer can Not sign a purchase within 90 days of the date You bought the property, or it will never be funded.

talk to a lender about the underwriting before you buy the house. so you know what to expect the whole way along. if you use a fannie loan, it'll be 75% ARV yes you'll need a good credit score, exact requirements will vary by lender.all banks are different, you can't get a specific answer to a general question. you must ask the lender you're going to use what their process and requirements looks like.