Different lenders have different guidelines, so that's where a broker may come in handy by being able to shop your file though different lenders!

For the shop/garage conversion, I’m going to reach out to contractors our eakyir recommended in Solvang to get an idea of the scope of things, but other than the plumbing and electrical, I plan on doing all the work myself.

Also having a backup solution is smart.

They are both shop space.

If you're just looking to buy and hold, you'd just have to shop around with different lenders, probably local to that area.

@Chelsea Jeffers a smart attorney can advise you from anywhere.

I received a phone call from Claud inquiring about the property because he liked the 20x20 shop in the back (I got lucky on that one!)

I just wanted to post this information because as I was shopping mortgage lenders to do our refinance, NOT ONE even knew about this Freddie Mac or Fannie Mae option.....so I figured if mortgage lenders don't know about it, then many investors probably don't either!!   

The guy had moved out two months ahead of end of lease, took the internet which made watering non existent (smart wifi watering).

By the time I do my shopping and get back, the trip has taken an entire hour of my life.