@Kash Tacke legally, you would need architect drawings to get approval from Detroit Zoning Board.

Many DSCR programs require an investor to have a mortgage history- there are some DSCR mortgage programs that will work with investors who are renting- some refer to them as first time home buyers (FTHBs)- DSCR loans are only for investment properties where the owner isn't living there. 

Then I consider letters of reference, cosigners, and added security deposit in order to meet approval. 

Shayan,Best option to avoid issues and stay risk free along with having a better approval chance would be to go with a Cash out refinance.

Big Banks like Wells Fargo, BOA, Citi, US Bank, and Chase utilize lending programs aimed to service large swaths of depositors.

I’m  Hey Adam, Have you gotten Pre-Approved already?

If you own 25%+ of the business paying your w2, youre still self-employed.There are bank statement/1099 loan program as well, which is what you have been offered.

To minimize delays, it is important that you get approval to be a section 8 landlord from each housing authority.

The S8 program was never designed to put S8 tenants in Class A rentals!

I recently got pre-approved and am also on the hunt for my first investment property.