The DSCR compares the rental income to the property’s debt, and as long as the property covers the loan payments, you can often qualify without needing tax returns or traditional income verification.

;-)Yes, been doing all that research since this post, and am hearing from qualified investors with multiple MTR's that healthcare professionals are their chief tenant.

At the time, I was working in FinTech, making 6 figures which allowed me to qualify for $400,000 for a multifamily.

You would just qualify the deal with AirDNA projected income or use a STR1007 to qualify.

Since your property has 7 units, it's unlikely you'll qualify for a conventional loan.- **Commercial Loans**: These are more suitable for larger multifamily properties like yours.

Many bad renters will offer to pay extra up front as a means of avoiding your screening or skipping to the front of the line ahead of more-qualified applicants.

My question:Is there any way that I can get a Washington State property to qualify as my Primary Residence (PR) if my job supporting the loan is in Colorado?

Eventually we plan to rent the ADU for Medium or Long Term rental, and not sure if DSCR loan will qualify for such an arrangement.

But to qualify for the best mortgage rates, your score must be at least 740.A minimum loan-to-value ratio of 80%: Generally, lenders will loan up to 80% of the total loan amount.

Additionally, you have to be disciplined to spend less than you save and keep in mind that you're paying I/O on the principal balance v/s chunking down principal, albeit minimal in the initial years, which goes against the Dodd-Frank rule for qualified mortgages for homeowners