Is This Possible? Just Wondering.

[Account Closed]

Hello,

I often enjoy reading about real estate investment stories, and I have a question.

If someone is pre-approved by the bank, for lets say $500,000. 

Will the lender/bank allow you to purchase, lets say, two homes priced at $250k/each for properties you intend to rent out?

Because a $500,000 home at 4% would be a monthly payment of around $2,300 (after 20% down)

In my hometown, a $250k home will rent out between $1,700 - $2,200.

If you purchased two homes and rented them out for $2,200, that's $4,400, which means you're pocketing around $2,100/month after the mortgage (assuming no HOA, etc)

I'm just curious if lenders will let you own several homes with the money you qualify for.

Thank you!