Another issue is that the property ARV is 85k, and with most DSCR lenders minimum loan amounts being 75k, the rental won't qualify since the loan amount I'm seeking is around 60-65k at 75% LTV.

Possibly selling a townhouse with HOA issues that will leave me with some profit.

I have been using Venmo to collect rents and have not had any issues.

I contacted Lima one, and the same day i was issued a generic pre approval based on a bank balance and credit score alone for over $1MM, unfortunately they are not lending in IL so I will keep that option open when we are looking in other states.

Doing a refi will not fix the issue.

From my experience, people are blinded by the extra 50-100-200 dollars of extra cashflow a month and often don't realize that if you have a good tenant that pays regularly without causing issues, it would sometimes take another 3-5 years of a new tenant at the new rate to make up for the vacancy time of the turnover.

So, what we do to get around the seasoning issue is give a bridge loan up to 75% or 80% with the cash out.

In regards to financing, there is no issue getting financing for a new construction modular project- These are my steps: buying cash, getting a hard money loan for construction, building the homes, getting an appraisal (should be the same valuation as any other property) and finally taking a proper 30 years finance.

But, its still a foreclosure --- all those issues still apply.Good luck.

At foreclosure auction, no other bidders met the full credit bid the lender required and the property "reverted" to the lender.Said lender now owns the property on its books, which was formerly a mortgage asset, it used to be termed OREO ("other real estate owned") by bank auditors because these were not assets intended as buildings used by banks for retail offices, etc.A lender that (now) owns a property inherits all the senior liens, if any, as well as property taxes (both current and delinquent) as well as the ongoing issues with possession and maintenance.