We had very limited options within in house products. 

Jeremy,The difference in the cost is probably reflective of a difference in coverage or limits. 

The location I am looking in is in a low income census tract so there is no income limit.

I am not interested in traditional bank financing since it does not line up with how I plan to expand or how I've met with my limited success so far.Quadplex is assessed at $275,000 and I collect $3,200 a month in rent.

Value adds are increase rents, convert owner utilized sheds to tenant rentable space, decrease property taxes, shift some utilities to tenants, late fees, application fees.I agree with your statement about paying themselves more if they wanted too.

I always want it in place so I know what the terms and amount limit will be (75% LTV/up to $$$$).  

You should only leverage to the point where the investment can still create cashflow even in a down market....for those with limited capital to invest...not leveraging available cash diminishes opportunity to build additional wealth.

As a result, my credit limit has increased exponentially.

So far we have tried Saturdays and Sundays with limited attendance.

In addition to the checklist, I would also request the following:1) background/credit check, similar to tenant screening (need advise on application to use)2) pre approval letter from bank used for refinancing3) referral from current lender and past lenders (not sure if this is typical?)