The SAFE Act doesn't cover a commercial lender/broker or loan.

When honest mistakes are made I try not to take advantage, I'd cover real costs, I don't allow someone to profit, at least the usual profit from their mistakes.

that means HUD, VA, Rural Dev, or a mortgage through any lender who is Federally licensed like a bank.It covers almost all mortgages except the ones from HML or your Uncle Louie.And to quote that famous real estate investor Harry Callahan, "Do you feel lucky?

I have found a 5 unit property where the Seller is willing to carry a 25% 2nd mortgage. (70k purchase price, $2300/month gross income, $1300/month expenses) Initially I thought I could have the Seller 2nd cover my down payment but my research here on BP has taught me that any bank will want at least 10% from my pocket plus closing costs, if I can even get that.

I will still have cash in savings or income to cover at least 75% of the total project, if not the whole thing.

This provides me (as the contractor) with peace of mind that if I find I somehow grossly underestimated labor or materials, I'm partially covered.

I know there are websites like vrbo that can help rent the properties but I would like to know if it's a huge hassle to manage one and if weekly rentals tend to cover the cost or if it's more for personal enjoyment?

Meaning buy the house, get negative cashflow because the rent didnt even cover the mortgage, then sell for a $30k profit in 1 or 2 years.

Is sewer and water covered under Misc?

@David Perry yes I did have to put down 3.5%, but then during the inspection I was picky and ending up getting $4,000 in selling repair credit, on top of doing a seller concession to cover the closing cost.