Reset your personal goal from the fat double-end commission to not getting sued by either party.

I don't mean to be a negative nelly, but I would recommend improving your credit and getting more money before you invest. 

If you end up with a $3700 rent payment, that doesn't actually improve your situation much.Refi your current home and drop another $100k on the balance to lower your payments and DTI.If you get a commercial loan, the lender will be more interested in the property performance (specifically, DSCR) than your personal DTI.Depending on the deal, offer a larger down payment, then look to open a LOC to access that additional equity, if needed.A partner could definitely make things easier in a case like this.

Typically, they lend on properties that need improvement and will then be either sold or refinanced within 1 year.

The type of investing he supports in long term investing to secure your retirement...NOT to improve your current wealth.

I did use it for a rental for a while, as the market improved.

Eventually through all the improvements the all in budget was 240k, which was still great.

Which is a heck of a lot better than the big fat zero they were giving us before.

I certainly don't agree with a Landlord change their fee structure during a disaster so they can continue keeping their wallet fat while their client suffers.

Here's what he's referencing is my guess: In the TCJA lease hold improvement property was incorrectly written in as 39 year...when really it's 15.