Well my friend did the deal with a regular bank.

I am not sure if anyone is familiar with tax laws here but will I just pay tax on that $50k as if it was regular income?

The recent disappearance of mortgage products for individuals with challenged credit is due to produce some amazing opportunities for the savvy investors.Where are these opportunities?

You just have to monitor them on a regular basis.

Finally, EVERY SINGLE PERSON that has claimed otherwise here and has produced data has been proven wrong.

Most investors who did such a deal were somehow involved in the auction process and agreed a deal immediately after the auction failed to produce a result.2.

It is a small bar but has plenty of regulars.

Just get a regular mortgage if you can at a low rate.

They are putting their money on the line.I suspect that most lawyers who handle closings depend on what the title company produces when they review the files before scheduling a closing.John Corey

When you talk about No Doc/Full Doc commercial mortgages, I was under the impression that commercial lenders will look at the property alone to determine whether the income it produces will cover the debt service by >120% and that my own personal income is irrelevant.