It's great if you qualify, it has many benefits.

On the south side, my credit score requirement is 600 and will qualify people who make 2.5x monthly rent.

Typically lenders do not allow this but if they do you would ahve to go through a full underwriting to confirm you qualify to make the payments.

A well qualified business broker or someone else experienced in those calculations (think someone with statistics/finance expertise) can easily do this.  

If you are looking to use rental income instead of personal income to qualify for mortgage, you'll be looking at commercial financing.

@Chris Kay beleive you can do DSR loans without a job as they qualify the property, not the borrower.You'd still need 20-25% down though.That's where you have a decision:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- Save up for your next acquisition.Only YOU can make that decision as you have to be comfortable with the increasing debt-load risk and the additional time to manage everything.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Be prepared for trial runs with several different candidates if you choose to hire a handyman to make sure they turn out to be qualified and dependable.

I havnt even spoke to a lender yet on what I qualify for.

Just because you find a laundromat that could qualify for SBA doesn't necessarily mean you'll be able to use an SBA loan to buy it if you're beat out by a cash offer.4) Historical cash flow - SBA lenders typically want to see 3 years of historical cash flow.