Hi All,Pre-approved by lender for 3.5 down on FHA. 

Another thing to note is if its a 3 or 4 unit, it must pass the FHA self sufficiency test, which at times, makes it harder to get loan approval.

And many clients are wary of getting pre-approved too early, but honestly it's not a notable credit ding at all.

As a new agent starting at a brokerage, how does someone get qualified for a pre-approval letter without having consecutive pay stubs if you’re trying to purchase a multi family property? 

You have to be careful and make sure the property you purchase will be approved for short-term rentals.

Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

The city said there is a good chance it will get approved to become residential. 1.

You if you're doing any major work to convert the unit/ structure you'll probably need an architect to draw up the changes and get them approved BEFORE starting the work.

(DISCLAIMER--my view is limited and I'm not a structural engineer, so that's not an official 'stamp of approval.')How is the odor?  

Is it normal for the seller of a multi-family property (5 units) to ask me, an investor inquiring about their property, for a Proof of Funds or Pre-approval letter when I am just asking questions like to see the rent roll, losses and profits for the last 3 years and other relevant info to do my due diligence?