Financing for second property

[Matt Brown]

I currently own the home I'm living in now. I used a VA loan in conjunction with CHFA and a buy down to pay 3.875 the first year, 4.875 the second, and 5.875 years 3-30.
Now here's the thing... I want to buy my first investment property and rent it out. I know I can only have 1 outstanding VA loan out at a time, but how do lenders feel about investment properties? I know with my first home I bought they looked at my income to debt ratio and wouldn't go any higher than like 45%, but since I already have one mortgage, do they look at that with investment properties?