@David RutledgeDavid Its up to the lending institution but they may also require  cash reserves, more paper work, longer loan closings etc. 

It's essentially an un-recorded land contract.  

Since you're leveraging the 401k funds before retirement, I would think there are significant tax penalties.I'm curious to hear about how you repaid your 401k and how much you were taxed on the loan.Regards,Steve Essentially, you borrow the money through your company's plan's administrator from your 401(k).  

I'm new to real estate, the mountain of information, paperwork, legal this, illegal that, and just plain uncertainty is overwhelming.

If anything, our industry has too many "managers/landlords" quick to dismiss and throw people in the shuffle.If it's called the wrong motivation, than fine...at least there's COMMON courtesy -to understand someone, rather than cost another WILLING cooperative person THOUSANDS and change his living plans because of your job's fussy paperwork ??

@Joe KoppelA portfolio lender is one that doesn't necessarily follow Fannie or Freddie guidelines; essentially they make their own rules.Exhaust the conventional lending side of things before going with a portfolio.  

Wondering whether or not the "holding costs" of PITI can be included in the loan... essentially using the renovation part of the loan to not only pay for the construction aspect but to also pay the holding costs while the renovation is taking place.

The function of a good real estate agent is to ensure you get the best price for your property and to perform the associated paperwork.

I had never purchased a house without a real estate agent, so I thought that I would seek the help of a real estate attorney for the paperwork and have a real estate agent present just for the home inspection.

I closed on a MF a few months ago with 15% down and managed to add a HELOC for an additional 5% so that it is essentially 10% down.