@Alex Hunt how does one revise a lease after a sale?

Those loan products can vary wildly - but I can speak about what I generally do as a private lender.

As others said, some of this could be tied to the glut of product coming online in many markets.  

Obvious statement but people still develop when there's similar existing product half the price of replacement

Here's the problem, if the Due on Sale gets called, they have 30 days to pay off the entire balance of your loan or it goes to foreclosure.

Ashton, Here is what I will do,I will purchase the property at $700k to $710k (or shift the closing cost to seller) with new Fannie Mae product with 5% down or ~$36k (pull from HELOC) - owner occupancy for a year.

Purchase price: $295,000 Cash invested: $11,000 Sale price: $409,900 My wife and I didn't have many options purchasing our second home.

The property illicit great numbers (ROI, cash flow, sale price, etc.)

It was a REO foreclosure sale, with a tenant, and needed some work.

I realize the net sale going into the exchange property needs to be at same amount or if below (cap gain tax will be on sale $ not used for purchase).Cheers!