Improvements on property you own do not qualify.2.

Those on other sources of government cash such as disability often may qualify due to overall household income. 

FHA now allows us to count rental income from an ADU (additional dwelling unit) to help borrowers qualify.

I would like to purchase another property so I looked into a heloc and a cash out refinance and it looks like I would qualify for about 75000 max which would be enough to put a down payment on another property and rehab it, but I still haven’t paid myself back from the original property rehab.

I would speak with a loan officer to get an idea of what I would qualify for with that level of student debt. 

Does he qualify on his own?

One area can show great signs but literally cross the railroad tracks and it’s a different world.Be aware of these types of physical delineation.If you are getting no demand from qualified applicants then I would say it’s not in a margin of a gentrifying neighborhood.  

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

If you can qualify for an FHA mortgage that amount can be as little as 3.5% of the loan value.  

Absent the DTI "immediate credit" he may not qualify for a new loan for the size of home he seeks inside of the 9-12 months after he sells.