Those are next to impossible to find in the non-recourse market, and being an older home and a small loan of 50K.

I took the money.I have been working at that W-2 contract position since July and my wife and I want to buy our first homeFinancial info: 130k per yearUnder 40% DTI combined when assuming a high $2600 mortgage (we were targeting around 2000-2200 per month)As first time home buyers we don't have enough for 20% down but do have enough for at least 5% (plus closing costs)We are looking in the high 200 low 300 range in Wake County, North Carolina but with just her income makes that impossible to qualify.

Not saying its impossible but I dont think its very common.

My understanding is that having the property owned by an LLC is ideal for protection, but it's either difficult or impossible to get a conventional loan as an LLC.

Which is why it's impossible to "desktop underwrite" everything you come across. 

The TREC form is for a platted site, I don't know what you are buying so impossible to recommend a form. 

Excellence is a great goal, perfection is different and by definition impossible - I think by nature we tend to be perfectionists and most agents have a slew of great marketing ideas that have remained undone for the last ten years. 

However, it seems impossible to find properties, even in surrounding areas, that can even break the 1% rule.

Compliance is nearly impossible when there is a consumer on the buying end.

It's not impossible, just a thought to consider.