However, without significant updates, they’re likely to reject your application outright without leniency. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I submitted an application etc but I am going to finish the rehab to get better terms before resubmitting.The back story is that I am about 90% done rehabbing a home for a rental. 

Quote from @Stephen Smith: You are correct, this can happen, however, if your application is full and complete this is an expectation.  

In some areas, I find that the information is exaggerated (applicant lied) to make their application look betterHere's how I use them:  A lot of times, the applicant will self report information that disqualifies them. 

Most bankers can run live pricing to help you make a final decision without having to have your credit pulled several times or fill out a dozen applications and submit docs!

Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.

@Jorge Vazquez we stopped doing signs over 10 years ago.We had a separate phone number on our signs, so were able to track traffic & applications from them.We were getting more & BETTER leads from our online ads then the signs - so an easy choice to stop using them (also time & money savings).