Apartment investing with $250k?

[Jason Rowlett]

Hello, I am selling a condo I rent out in Silicon Valley. I will net about $250k and I would like to invest that money as a down payment into my first apartment building. Let's say the apartment I buy is $1M and I put down 25% and borrow $750K -- I will have no money left over for monthly payments on that amount.

So my question is, will a bank consider rental income from occupancy as income for the loan? Or, do I need to prove other sources of income to secure the loan?