I know FHA has them, but I am having trouble getting an FHA offer accepted, and am trying to get around the self sufficiency rule for 3 and 4 unit.

In "general," you don't really need it --- in very short.For your question, if your income won't support a loan, then you really need to find a good deal that has sufficient rent/income to support a DSCR loan.You are asking about refinancing. 

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

I don't use much of it as our team is fairly self sufficient.

It will be expensive (like 8%ish) but they may operate like B2R and Colony in that they may go by LTV and not LTC, in which case you could somewhere if you're buying sufficiently below market.Jean

@Albert Bui @Carlos Valencia Just careful on the 3-4 unit FHA properties that we'll be subject to self sufficiency rule however FHA is a good option to finance with on 1-2 unit owner occupied properties.SS Rule is not easy to meet when dealing with expensive west and east coast or urban area 3-4 unit properties.

While I haven't been pre-approved yet, I'm actively exploring different loan options and aiming for a DSCR loan with 20-25% down and sufficient reserves, as you mentioned.

I’ve seen title company provided loan packages ( written by their attorney) for private loan transactions that consist of a 2 page note and 3 page deed of trust.  98% of the time it is sufficient.  

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Looking at a 4 unit in Cicero, Illinois.Property cost $270,000Total debt is about $1000/monthMortgage if min down payment FHA (3.5%) seems to be about $1700Total debt = $27004 units currently renting month to month.Unit 1 $850Unit 2 $850Unit 3 $750Commercial space $1000Taking the 3rd unit as primary resident.Leaves about $2000 in qualifying rental income (property is self sufficient) @ 75%.Total debt -$2700 - $2000 in qualifying rental income = $700 remaining debt coverage.In theory, less than 50% DTI would hit the target @ showing about $20,000 gross income per year?.....