One thing I see as a lender is that any kind of owner-occupied loan with a low down payment will not allow you to build enough equity to refinance out of it, even when you are forcing equity with a rehab.

There may be other options there.But, from a strategic angle, that is where a random guy on the internet jumps in and says "You might be able to buy the property from your mother on a Lease Option" that you make the payments and maintain the house with the option expiring on her passing date, converting back to her estate which you and any other heirs will inherit".

Just manipulate the mortgage until it reflects your monthly payment.

One advantage you'll have over people doing a regular FHA purchase loan (non 203k FHA rehab loan) is that when you go towards purchasing a 3-4 unit property and have to deal with " FHA Self Sufficiency," Rule you'll be able to use future market rents that are appraised on with after repair rents (way higher than your acquisition rents probably).This makes it easier to make your FHA loan qualify especially if you buy a good deal that has big rental income upside (your proforma future rents are way higher than your acquisition entry rents).FHA SS rule is required to qualify a FHA loan when its a 3-4 unit property, this doesnt apply to 1-2 unit FHA loans.Even on 203k FHA loans you'll need to meet FHA SS rules (3-4 unit applies to).

Any cash or other non-like-kind property received during the exchange will be subject to capital gains tax.To accurately determine the cost of the replacement property for tax purposes, it is important not to make any assumptions.

Where the materials are great, but the workmanship in putting it all together then becomes more important (because the materials are already a non-worry element). 

If you're talking about Non-QM or investor loans, there are some other programs that you can do. 

The house I closed there in December (at 8.5%) ended up with DSCR of 1.3The other alternative is most of the money for the down payment is in MSFT and GOOG so I could leave it in the stock market.

Most of our business is non-203K renovation loans...both for consumers to occupy and for investors. 

. $100K will be a down payment for a $400,000 property give or take.