Should I consider HML?

[Phil Mays]

Hi BPers

Looking for input for financing 1 family in SW Ohio. My main focus is on these types of long term rentals in prime school districts. I cannot qualify for a portfolio loan as my DTI is above the requirements even though my credit score is >800 and I don't have 20%-30% to invest. I could put 10% into it. I have come across a SFR 3 br 1 ba with detached gar. Needs approx. $3-4 k in carpet and new garage door and paint. Have not had inspections yet. The #'s look good. Asking $49k. Zillow has it worth $85k and Trulia $88k. Rental potential is minimum $850+/per mo.probably more per rentometer. Taxes =$127/mo. Ins. $50/mo. Never explored HML but hate to pass this one up. Is this a deal worth exploring with HML?

Thanks all in advance for your input.