Talking to the attorney, the biggest issue the city typically brings up is parking.

No issues with borrower who has been paying more than the minimum payment.As I'm reading these forums and listening to podcasts, I keep seeing others recommending that a servicer such as Madison be used to stay out of trouble because of the Dodd-Frank.

Any unseen issues will be presented to the Seller for remediation/negotiation if required.  

@Jacob BarnhartIf you have the property rehabbed and rented out it's less of an issue.

There are a lot of forum posts about it so I won't get into it, but it's a very real issue.

The more information I can get the better on the possible down sides up sides or issues anyone sees with this plan also advice on where to find this kind of financing would be great I was told I could possibly have 75% of the potential income to be considered for the loan and the last off my w2 income.

The issue I am having is I can not get a conventional mortgage because they require 2 years of tax statements that I do not have yet.

So I'd check with city code book and see what's required,, all that humidity has to go somewhere,, and inside isn't where it belongs.Even if it was a private home,, the amount of moisture staying inside is bad for your house structure,, mold issues, paint peeling, rot, over time it will become a bigger problem

I researched the hot tub option.First I found out that the 98% of the competition didn't have them and may place already stays full without one.Second, I talked to some people that have them and they said they wish they didn't have one or didn't need one to be competitive.If you do you have you need to have a contract with a sauna company to do the maintenance to minimize your liability.I would the a pool would have the same issues applied to it.So if you don't need one of these to be competitive them skip the headache.

I paid my dues online, but I was never issued my NRDS ID number, so I have no way to create an account online.