Two houses on one parcel...advice for financing?
Looking to pickup my second purchase for rentals. Came across a really good value of a property for under $200k. When I passed it by our loan broker, he indicated that the underwriters have an issue with the property because it's two homes on a single parcel. Both houses are duplexes and are rented at the moment. Would be an ideal purchase, but it seems like I may not be able to get financing in the traditional way. Any specific suggestions you may have for me? I won't qualify for an FHA or VA loan. I presume that leaves me only with seller financing or private financing. Is there any other options out there? If not, anyone have suggestions for private financing in the Chicago area?
Thanks.
Shawn