Co-op Commission Approved, List Price Approved by Short Sale Lender, A Buyer’s Premium of 5% or $2,500, whichever is greater, will be added to the Winning Bid, Financing may be Available, Property is sold as is, where is, An Earnest Money Deposit of 5% of the purchase price or $2,500, whichever is greater, is required along with Proof of Funds, Co-op commission subject to Short Sale Lender’s Arm’s Length Affidavit" 

@Mary Mitchell  I can't say for sure that there's not a lender out there that would be ok with that setup, but I know the lenders I work with will see who owns the LLC, and they want all leases to be arms length and market rent, so no renting to family either.

On day 2 of ownership approached a local bank who does 85/15 LTV with 25 Year amortizing 5/5 ARM loans about getting a mortgage on the property for the BRRR strategy.

The best case I’ve found are ARMs amortized over 30 years.I was wondering if anyone know lenders in the Texas area, more specifically Houston, that will do 30 year FRMs for non-owner occupied residenial props?

You do not need to close this deal formally through a title company...it's just a safety precaution.

I do currently have a good rate,  but it is an ARM 5/5, so every 5 years it will go up 2%. 

Because it is FHA insured they may have some required repairs (usually structural or safety related).

It would have been cheaper for us to put up a big modern box in the lot, however, we want to keep the integrity of the neighborhood, and transform a house from a safety hazard to a bright spot in the neighborhood.  

Sleeping hours are from 10:00PM – 6:00AM Sunday through Thursday, during this time, we expect to have tv’s, computers and conversations lowered.12.All housemates will practice safety such as not walking away from stove while in use, not blocking exits, being mindful of candles and practicing common sense.

Up to 75% LTVNo US credit requiredFewer country restrictionsDTI up to 50% consideredInvestment propertiesSFRs, townhomes, condos, 2-4 unitsNo SSN or ITIN required12 months reserves requiredNon-warrantable condos considered5/1 ARM or 30-year fixedLoans up to $750,000 (minimum $75,000)Seller concessions to 2%