Mortgage with only rental income

[Brendan B.]

A friend of mine is looking to purchase an investment property. He is a student, so he doesn't have any income outside of an investment property he owns free and clear. He said he's been pretty much shut down by the companies he has reached out to. Anyone know of where he may be able to get a mortgage? If relevant, it's in upstate New York. Thanks.

[Bill B.]

Pry a judgement call. 2 years of tax returns including 1 year with only a month or two might not mean much. 

About the only other way to get a mortgage would be seller financing with a decent downpayment. Or partnering with someone with good credit/income with a future split, or a duplex where you each live in one half or?