Without the bank being able to perform any pre-qualification with a credit check, or soft credit check, you may be at a stand still.

He stated that this company is owned by Fidelity National Financial (so a secure bank!).

personally, I would tell him that you dont perform major upgrades in tenant occupied units, but you will gladly allow him to sign a new lease in one of the vacant units when rehabs are complete.

I have secured a few internships and have saved about 25,000.

Just don't get lured in by the promise of phony high COC returns on cheap $40K-$50K properties, They're in terrible areas and don't perform.

Just a quick update:The gas company came out yesterday to perform the pressure test.

I'm looking at a small NY owner occupied, non-performing 2nd with a performing first being sold by a company that has other NY notes.

If I do a private loan, would that be an unsecured loan or is there a way after the property is purchased to tie it to this loan so they have extra security?

She has no problem paying the security deposit and passing a background check (I’ll check up on these). 

Want to possibly ask for more of security deposit with this new baby as we all know kids and the damage they cause to rentals.