More creative financing lenders

[Wenhao Leu]

Hi all, I am a newbie here at BP, but I am starting out to look for properties to invest on a buy and hold basis. However, I realized that my situation is quite unique. I am self-employed and I didn't declare a lot of tax. But i do have a bit of cash. Are there lenders who will lend base on the cash I have and also the rent income that the property comes in?

For example, if I have $150k in the bank and I want to buy a $130k property, which brings in $1200 a month of rent, would there be a lender be willing to just look at that and approve my loan?

So far it seems more lenders I work with have the traditional requirement (e.g., debt to income ratio below a certain amount). I just don't see much risk with the situation I mentioned above, unless of course I am completely without a job and wasting away my saving.