That is the standard list of documents required by all banks if you are using a traditional loan. 

🧮It sounds like you have these priorities for your next PNW property besides the standard FI road map:- Something that has positive ROI (appreciation + cash flow + tax deductions + loan paydown) purchased at $1M with 20% down and ~6.8% interest.

Actually, BOTH scenarios push this into commercial:https://guide.freddiemac.com/app/guide/section/5601.2See:(a) Ineligible property typesMortgages secured by the following property types are not eligible for purchase by Freddie Mac:A 2- or 3-unit property with an ADU that does not comply with zoning and land use requirements (illegal zoning)A 1-, 2- or 3-unit property with two or more ADUsA 4-unit property with an ADU

Yes there are loans specifically for STRs if you need any help with that let me know.

If a loan gets called, my end buyer is totally screwed because I don't have the resources to pay the bank or refinance.

Hey Mary,Buy a house as a primary residence with 3% or 3.5% down using a conventional or FHA loan and then get a roommate to cover part of the payment. 

If I take over this loan through a subto purchase, does the tax exemption remain in place or would I have to start paying taxes?

That dissuades people from paying cash and steers them to pay online using secure ACH transfers using apartments.com3.

Let me here what you would do with the scenario.Purchase Price:40KRehab: 40KTotal Loan From Lender after Rehab: 80KARV: 130KFair Market Rent: 1,200 Mo.If this was your very first purchase, with a goal of wanting to scale, and build a portfolio based around LTR, and Fix and Flips.

Typically, you will see loan products that are marketed up to 75%, MAYBE 80% LTV.