That sounds about right.. for whatever reason I could not wrap my head around it as far as a lender approving a loan and also factoring in a borrowed DP etc.

Have Letters of Administration been approved by the court and issued to the PR?

When it comes to commercial lending will they approve you based on the income of a property or will they also take into consideration your debt to income ratio.

There are some projects that I’d like to do (between the 5/22 closing and 6/1 when tenants move in) that will require a building permit — can I apply for a building permit so that the whole approval process can start now so that we’re set to move forward with our projects once we close?

@Ariel Lisogorsky Just got pre-approved at https://caliberhomeloans.com/ for HomeStyle renovation loan. 

Generally, it's an issue when you have more apts than the CofO but now the other way around.As far as work without permits, if Mortgage banks in NYC didn't finance those, at least 20 to 30% of all buildings would not be approved!

Once you have the repair estimate, get a pre-approval for what your bottomline number is and then negotiate with the owner. 

My wife and I are all pre approved for 350k and I have 25k in my bank for the down.

If you're holding $100k+ of CC debt there is a very high risk of not getting approved for another card or not getting enough new credit to move the entire balance.Cheaper than hard money?

The income isnt necessarily stable but I've found a lender who seems to be willing to work with me & am waiting to hear back on my pre-approval.