I am able to put up 30%, but the banks (small, local ones), and even online lenders, want so many months-years experience, which I dont have.

But in this case, what reassurance must be given to the seller when posing this option to them, as their name remains on the loan and they transfer the deed over?

If your using financing the bank requires this.

I recently sold my business and have about $200,000 in the bank to use to invest in real estate.

How is ethical for the HUD inspector and bank to do this?

There is no bank qualifying I need to do or worry about 25% down or debt ratios or any of that stuff.I keep $5k per house in reserves so that I can always make the underlying payment and cover emergencies.

A bank won’t give you a mortgage without a steady income.2.

It can also give you some time to build up more capital and you can plan for a balloon payment in 5-10 years where you'd be refinancing with a bank via a conventional loan.

So to me it seems like owner had it rented in 2014, he's no where to be found...property has been seized and taken from bank maintenance company.I called the bank after purchasing the property and they said since i'm not the owner they can't give me a code to open the property and said 3rd party purchaser are responsible to taking possession on their own.I called my lawyer and he said I should go ahead and get the locks changed.

I do believe the bank may own the house.