Hey guys, Alex here from Addison, IL.  Been listening to the Bigger Pockets Podcast for the last couple of weeks.  In 2008 and 2009 earned top 100 Chicago Realtor title.  Had some financial missteps ,and pretty much s...

From what you're saying it's not like the property wouldn't qualify for conventional financing. 

I live and work downtown and am on the board of San Diego downtown partnership, gentrification is a slow moving ship but it is happening.

They would only be willing to do that if I provided some sort of letter or acknowledgement of intent from the city saying the city is on board with the rezoning.

Shame on any lender who allows you to get into that.Though maybe short term, you're looking for a normal (probably private) loan, Milton, for which I bet you'll have to qualify.

This wouldn't work in Allentown, but anything more than a few miles north of Rt. 22 would qualify. https://www.rd.usda.gov/programs-services/all-prog...I would be careful not to over-leverage yourself at this stage in the game.

There are also specialized medical files where you can specify practice size and other pertinent factors that would help qualify a business for your space.

I guess they keep their jobs until they have enough monthly rental income to qualify for loans?

You'll need to find a good mortgage broker with VA experience to figure out exactly what would qualify as an "upgrade" for your area. 

Basically the textbook stated that, there is a new law in New Jersey, that if you try to sell a co-op, for the same amount or less then your investment, but aren’t successful after 4+ months on the market, then you can rent it out, regardless of any lease bylaws the board of that co-op has for renting.