Couple Quick Questions About Loan Qualifications

[Matthew Hanrahan]

Hi everyone, Real quick question about financing with a traditional mortgage. If I go to a bank, and tell a loan officer that my general plan is to buy a buy and hold investment property and I want to know approx how much I can get approved for, am I going to get laughed out of the building (so to speak). If not, would anyone have a recommendation on how I would approach that subject at a bank/other traditional lender? If so what am I missing here? I understand that with rental properties I need to focus on cash flow, but I want to ensure that I can actually secure a loan for $x and that I'm not wasting my time or an agent's time. Also, would any pre-approval process require a hard pull on my credit (with negative aspects towards my score)? If after I see loan options I decide to not proceed further would that look like a rejection of some kind on my report? Thank you for the help!!