We’ve secured pre-approval from Chase for a $200k conventional loan at 8% interest with a $40k down payment for our first rental property.

Thank you for sharing the thorough requirements that the process entails so one can pre-prepare when searching for prospects.

They were incorporated on 4/3/2007. 

We were married recently, and when we add in our wedding gifts with what we have been saving on our own for years, we feel that we are finally ready to pull the trigger on our first property purchase.We actually live about 90 minutes south of the ski area that we are looking to invest in, but it is an area that I am very familiar with as I have been going there my whole life.

@Mario MoralesCash-on-cash return measures the amount of cash flow relative to the amount of cash invested in a property investment and is calculated on a pre-tax basis.In theory if your rental income increases by X amount annually due to the rehab while holding your expenses constant so it directly increases your bottom line (cash flow), you can calculate the CoC return by inputting X/$45k (the cost).

The .5%-5% are hesitant as the REI profile is as disastrous as they've seen and they keep  reading stuff from pre-covid to judge the analysis and we all know that won't materialize.Then for 5-15%  is nervous cause the COL has jumped in their face, plus the aforementioned issues.

Price: $1.2MOffer: $900kI had my agent call to see if the seller would accept this price because it's been on the market for a year.The seller's agent said the owner had rejected a $1M offer in the past, but it's been awhile so maybe and asked for a formal offer with proof of funds and pre-approval.Why?

For a shopping center, banks would require center to be atleast 50% pre-leased before they give you construction loan.

This is the only thing holding me back from getting pre-qualified for another property. 

Therefore they will not lend or pre-approve a mortgage with these numbers.