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I don't know about Virginia, but I know investment properties. Most important thing to know and convey to your investor is over 80%LTV is give and take. There's generally four prime factors; LTV, Rate, Term, and closing costs. Be prepared to sacrifice atleast one to meet your clients wishes for the most important. Have them rate the four in order of what's most important to them. Keep in mind Lenders are at a higher risk at high LTV's on non-owners, so it costs. How risky would it be for you to loan $20 bucks to your cousin so they could loan it to a friend? That's how I end any negotiations with clients on investment properties. I can answer probaly most, if not all of your questions, but ask specific questions for accurate answers
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