BTW: have you every thought of purchasing these properties through an IRA? I have a couple of properties that I own that way. It's sweet! Locally, you can go to http://www.entrustiraadmin.com/ They will walk you through the process step-by-step.
My experience has been that the investor will usually be required by the lender to deposit a 25% down payment.
Other than the above most of the other restrictions, i.e., the building/unit condition, HOA, rules/regulations, reserves, occupancy rates, etc...will all come into play when determining if the building will even qualify.
Hope this helps. Feel free to contact me directly if you have further questions or call Michael Poland 773-770-7524, Senior Banker.
A couple of my buyers have had to go with "non-warrantable" loans so I know that the lenders I work with are able to do it. They will have some questions for you about the type of financing you are trying to establish and they will need to know information about the building obviously but I would be MORE than happy to refer you to them! You can call me at 773-991-9359 for their info.