Am I a Landlord Yet? (For a Loan's Sake)

[Tyson R.]

Hey BP,

I can't seem to find my answer regarding conventional loans for investment properties. We've owned a rental property for two years, producing monthly income that has been cash-flowing. This income property has always been managed by a PM company. My wife and I recently bought a house and are house hacking it and I'm doing the PM on my own now. 

I'm very interested in buying another property, but to go with a conventional mortgage I'll need to use the potential income to qualify for my next loan. 

Since we've been making rental income for 2+ years can we now be eligible to use potential income from a rental property to finance the next buy? Or do I actually have to be the property manager for 2 years (meaning do I have to wait for another 2 years?)  Any mortgage officers out there that can enlighten this newb.

Can anyone point me in the right direction for more information on this?