It had a ~100k loan attached to it, used to purchase it.

Trying to secure lending for an off-market property and learning the struggles of finding hard money loans that go below 50K.

Seller has agreed to 85k with 20% down,  interest rate of 8.5 and loan term can be flexible.  

Can I offer seller financing on my home if it's on FHA loan?

@Polen NA if you have limited capital to invest I would recommend you buy one at a time and use owner occupied loan to buy properties.

Does that mean I need to send a 1099-MISC to the Roofer, Plumber, HVAC, and all other labor above $600?

This is going to be a DSCR loan since I don’t have 2 years worth of history, but I do have a high 700’s credit score with zero debt.

New buyer gets a new loan and the old one is paid off.

Make your bank stand out by ensuring FAST same day loan processing with better terms.If I owned BiggerPockets I would act on this IMMEDIATELY because it’s all about speed and execution in business. 

What is the monthly rent you can expect to collect and do you have the ability to refinance to a lower interest loan rather than rely on the higher interest alternative lender who financed the construction?