An example would be those who can't afford a mortgage of less than their cost of rent simply because they don't have a down payment and the score to back it, yet provide accurate and detailed rent payments over X amount of years.

Or again, you often doubt if you really exist. 

When it was all said and done I still ended up being able to pull about 5 to 10k more out of it than I put into it.Current mortgage including taxes and insurance is $1,519 and it's currently rented for $2,546/month.Yes, you can buy a house at auction that you then flip and sell for market value.And yes, I have participated in online auctions.

We do not have LLCs for our 2 properties (mortgage rate would have been a lot higher) and have an umbrella policy with Stillwater Insurance. 

Most folks with higher end homes in todays market will be very reluctant to sell sub too as they are too sophisticated or will consult and an attorney and simply wont take the risk of letting someone take over their mortgage without formerly removing their liability.. might be  able talk some into do a Warp though if they want to make money on the delta like we do..

Mortgage balance $455k at 3.99%.

It explains the response I received from the mortgage broker.

We don't know how much is left on the mortgage at 3%.

I would also consider buying an existing bank with credits already approved.

But for development/new construction, I would personally expect the returns to be closer to the 30%/yr range (and these deals do still exist, just fewer and further between).