Why do you say multifamily would be more difficult to be approved for?

I posted this in another thread seeking mentors:It is just difficult to find experienced real estate investors willing to offer their time to help someone they do not even know.

Perhaps another option would be to go for a conventional loan for the loan contract balance.

It seems like it's difficult in Maine, is it this way in every state?

Other than reading articles online, base from experience of real people, laws, and how terms are applied in real life situations, i find investopedia.com to be a good guide as well for explanation and definitions of terms in RE that you might find difficult to understand.

It's not difficult once you learn the ropes but it involves a lot.

Here is the information I have...forget all other banks mentioned as that info was given to us by the seller and may or may not be reliable.Chain:Deed of Trust 1st Mariner04/99 for $333KLiber 2683 Folio 415-420Deed of Trust Greenpoint Mortgage Funding03/03 for $419KLiber 3642 Folio 252Within this document it states:Refinance Deed of Trust at Liber 2683 Folio 415 paid balance of loan $320528.66 leaving $0 balanceCertificate of Satisfaction Greenpoint Mortgage Funding12/03Satisfies Liber 3642 Folio 252The only other document that we have is a letter from 1st Mariner stating that they sold the loan to Residential Funding Corporation.This is all we were able to obtain from the county records.

I am a new fix it and flip guy and find it difficult trying to locate homes to buy with enough value (ARV) and make money.

I don't like the fact contractors are never on time, banks are difficult to deal with, people aren't doing what they said they would be doing.

While it's true they lose their deposit and any funds that have been applied to the principle balance on the loan if they don't follow through, they may never qualify (potential for more option money, longer term cashflow though)...The only other thing I can think of would be to enter the deal while legally structured as a trust, then you could transfer all or part of your "beneficial interest" in the property for a fee.