While this initial policy allowed me to secure conventional financing, I'm now in the process of planning and executing renovations to enhance the value and appeal of my home, with the goal of switching to a different insurance policy after completing the remodel and being refunded the unused portion of the escrow.

After some research, I'm thinking a DSCR loan is the best option for me.As for the area(s) I am interested in: I am not entirely sure.

From a legal perspective, it seems to be commingling a bit, but I guess it's technically a loan to the business.2) If that's not a viable option, then I was considering a business LOC. 

Also, per their numbers they are buying for 37 mil, debt 24 mil, equity 20 mil, 44mil minus 37 price = 7 million in closing costs, which is 35% of the total equity, RE commissions of say 4% total 1.5 mil so they are taking 5.5 million in fees up front as well minus the inspections/loan fees etc.

Sharing what are some of the things I think may be on the horizon for DSCR Loans in 2024 - inspired by a lot of comments that pop on these forums. 

The seller said they were all under oral agreements and no security deposits.

if this is an owner occupied property and the loan was used by the owner to buy the property to live in.. then they are by federal law able to request a 3rd party mediator to meet with them and a representative from the bank and try to work out a re pay planthe issue is many in foreclosure never follow up on this and basically waive their right to this meeting. that would be step number one get into the federally mandated mediation if the owner and the property qualify.

For lending, yes, you will be limited when it comes to conventional lending, as those loan products are made for owner-occupied properties.

It's "secured by balance sheet," which if you dig far enough into the questions leads to this statement: "Tellus earns its money by providing wholesale business-purpose residential real estate loans.

Currently, I have been using my VA loan.