The only reason I even list my houses before they are dried in is because my bank will not count a pre sale against my pre approved 12 loans I can have at any time ...

Because the SBA Lender’s approval is subject to different factors, i.e. a lender might be pessimistic about the borrower's industry or may have recently suffered losses in the borrower's geographic area, it might very well happen that although the borrower is fully qualified, he might still be rejected by the SBA lender.The following situations necessitate the use of a private money lender instead of a SBA lender:The buyer’s credit is spotty.The buyer’s company took a hit during the Great Recession.The seller has offered to carry back a second mortgage.

@Ceasar Blackman  As soon as my application is approved i didn't no any better and took the 63 hour course before sending off my application.

Many contracts include a clause binding heirs to honor the agreement.Also, the court can approve the sale pretty quickly if it is a small uncontested estate.

HI Troy,Regarding lending based on DCR and cash based debt coverage, DCR is mainly used by commercial, local, and business oriented bank loans, while conventional financing and residential 1-4 lending generally focuses on debt to income.45% Debt to Income (DTI) = $2.22 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify for50% Debt to Income (DTI - $2.00 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify forThe above are some examples as each bank has different ranges of requirements.If the max is 45% DTI and the borrower is seeking a mortgage of 1500 but net rents are 750 then they are seeking to qualify for a net -750 which requires 2.22 times the income to receive an approval which means they need 1665 gross monthly income.Hope that example helps conceptually explain the residential vs commercial lending aspect.

I've been approved for my first blanket loan on a 3 property purchase I'm working on with a partner of mine.

Before I approve anyone that has a criminal record, I always ask if they are on probation, and if they are on probation I get permission to contact their parole officer.  

Agents love to work with us because they know our buyers will preform when it gets approved whether it takes two months or a year.  

I have a 90-day contingency for the bank to give an approval.

At the same time, if there are actual "approved plans" ready to pull permits, that has a lot of value to a builder.