Conventional financing question

[Robert H.]

Hello, I currently have a day job with W2 income, but like many others here that have already taken the leap or have plans to, I would like to free myself from the rat race somewhere down the line.   I have talked to my lender about using passive income i.e. notes/rental income to be counted as income for conventional financing and he said it shouldn't be a problem as long as the income is established and consistent for some time.  

Can any bp members tell me what your experience has been after 'breaking free' in getting financing post W2?  How long is long enough to have established passive income?

[Robert H.]

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