Success is a process, failure is a choice

I would personally bring in my Pastor and have him bless the property, a personal choice for me.

Borrowing from a private lender would cost about $750 more on a 120 day loan, which is worth it to be able to close quicker to do more deals.Sort of a complex answer, you can PM me and I can answer any more questions you would like.

I've never heard of smaller residential lenders offering non-recourse loans as its based on borrowers credit.

Yet there are numerous other factors that may weigh into a decision of client choice.

Paying off debt may not be the best choice, depending on other factors like income, FICO, and credit/debt ratio.  

A lot of choices in the Memphis Market.

For a business owner with $100,000 taxable annual income, the net tax savings for using an S Corporation instead of an LLC in taxes paid every year can be as high as $7,500.Holding PropertiesWhen holding properties as a cash flow investor, the LLC (or LP) is generally the better choice because an LLC has more liberal distribution rules.

Some background information would include:- My business partner is fine with either forming an entity to borrow money to fund the investment or borrowing under my name.

The FNMA condo guidelines are all here  https://www.fanniemae.com/singlefamily/project-eli...Condo projects and properties which don't meet Fannie Mae and Freddie Mac warrantability standards are known as non-warrantable.Non-warrantable condos are more challenging to borrow against.Typically, a condo is considered warrantable if:No single entity owns more than 10% of the units in a project, including the developerAt least 51% of the units are owner-occupiedFewer than 15% of the units are in arrears with their association duesThere is no litigation in which the homeowners association (HOA) is namedCommercial space accounts is 25 percent or less of the total building square footageWhat  you want is lender that will lend on NON warrantable condo project.