You also need to consider job growth/stagnation, household formations, LTV's, and a host of other factors which point to us being in an upswing, but not necessarily bubble territory.I just returned from a weekend in Nashville with some friends. 

Im a Personal Banker at a local Credit Union and tend to see a lot of "high rollers" that have accounts with us. Being

Most are commissioned sales, though, and you have to bust your hump to get paid.

If you had a decent income two years ago and combine that with the obvious evidence that you can generate income from real estate (which you did), you'll be over the hump with the income question.Using your own home as collateral, most lenders won't flinch if you're asking to borrow only 50% of your home's value.

She lives local to the property I purchased and it was a good fit for both of us. Being

Let us be logical abpout this. 

Bust your hump.

So the 1st month's rent is in before the first payment is due, and I'm already over over the interest-to-principal hump. 

This works out for us b/c then it is easier for us to end the contract with them if something doesn't go well. 

Hey @Samson Kay, I agree with what @Joel Owens is saying - don't forget when you're turning a building around you'll have a significant dip in income in the first year and it's incredibly important to have a significant amount of money in reserve up front (don't depend on what cash flow looks like on paper) to get over that hump.