Seeing as it is an existing operating business ready to rock and roll will open up some options from other lenders.There is also a proposed expansion of SBA lenders so that could speed things along.Don't let FOMO get to you.

Let me propose some follow-up then: This same loan may be refinanced - if that happens, that's probably good for the owner of the MBS since current rates are *higher* and they'd receive the full balance of the loan.

Just finished excel sheet for inspections, set up meeting with legal to setup separate business (dunno LLC vs corp vs trust etc), we are building our proposal and should have everything ready to either go to bank or set up owner financing by end of next week.

@Nate Sanders this is great advice for all Investors. 

I'm an out of state investor, and after receiving quotes, I decided to fly out to Indy and was able to find that some of the work they proposed was bogus (wanting to change a perfectly new carpet with hardwood for instance).

Good luck build new relationships and propose your numbers there are a lot of experienced people that if the numbers work maybe willing to help you out.

Investors will laugh at such a proposal.

MarshallWhat you propose is not possible with IRA funds.When an IRA invests, it is the IRA that is the investor, not you. 

A couple things...1) It shouldn't cost you a dime more to use your own title company unless, of course, your title company's fees are higher. 2) If the proposed exceptions include judgments, mortgages or other liens, then that would be a reason for you to refuse to close.

I see the appeal of the proposed strategy.