Newbie

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I've done a lot of reading and planning and I am very excited to have entered the world of real estate investing. I bought a piece of land and used a friends GC license to build my first investment property. (I'm pretty handy) The cost of land and building was 140k. I used my own funds (personal equity line) to build the property and got financing for 110k with 30k of my money as a down payment. Upon completion the appraisal from the bank came in at 195k. (Happy day!) My PITI is around 650 per month and have it rented for 1400 per month. A couple of questions I have: Financing seemed pretty difficult with the conventional bank I used. I have already started building my 2nd property and am concerned about getting financing upon completion. Can the merits of my first deal be used to help in my finance application? Can I use the rental income to boost my personal income even though the deal is only 5 months old? (My annual income is around 80k and my personal residence costs me 1500 per month.) Should I use less of my own money since the appraisal came in so high, or should I stick to being really conservative? This will limit me to 1 deal a year, but I'm not sure if I could get financing for more than that. Thanks for any input.