I would then take out a HELOC to leverage the equity she has built up over the years (current value of the home is about $800k) for a down payment on an investment property or two.I was recently advised that putting the house in a trust, rather than adding my name to the deed, and putting myself as a beneficiary would be smart for estate planning purposes and give me access to commercial loan options as well as residential.However, I want to know if there is a major difference between the amount I would qualify for on the HELOC if I were to apply as a Trust or as an individual.I would assume either way the bank would be looking at my income to debt ratio and make a judgment that way.I appreciate the feedback!

Once you accept someone with a so so credit or start turning a blind eye to things that pop up on background checks or income requirements, what you do for one you must do for all. 

Why not re-offer 350k with a 100k seller credit (for example) and use that credit for down payment and closing costs when appraisal comes in at 370k like you feel confident it would.

Like usual, the majority of the responses were, “No.

The thing you must recognize is that major issues like this present opportunities as it scares the beginners and even some pros away.

Before I had not the credit nor financial means to embark in Real Estate, I'm in a much better position now.

The IRS has 30 days to credit the taxpayer account after they’ve received form 3115.

You may get a better rate, but its not worth the risk, IMHO.For fix and flips you need to use hard money, a construction loan, or a line of credit of some sort.

@Jason DiClemente I think you're being too generous about  them not caring about personal DTI. as a first multi and not much history, personal financials will be an important factor)-credit score doesn't get whacked too bad after your credit utilization goes way up-have 6 months of reserves, and maybe more -property is profitable to support both debt servicesthen you can probably knock this out.

My in-laws approached my wife about a business proposition in which they would finance majority of home purchases (down payments) and we would manage the properties.