Credit scores are made up of many factors, one is the utilization of an account vs its credit limit.

Eric,They are using rules that take those into account.

Good for your account in theory, but you really need to understand what is driving that cal rate for that area before purchasing a property.

For example:- Lender drops the LTV to account for additional risk. - Tenant agrees to either start the loan with recourse, with it burning off after the extension is signed, or start the loan as non-recourse with a springing trigger if tenant does not sign the extension soon by a certain deadline. - Lender requires a heavy TI/LC reserve until the extension is signed.

He had uploaded screenshots of his bank accounts. 

Every rich guy with a brokerage account at all time highs wants to "get into real estate" - too much money chasing not enough houses.

This means 20-25% for a down payment, and it has to be your money that you're using (verifiably in an account that belongs to you).Though there are programs that lend up to 90/100 to first-time investors, those programs usually don't work in Maine due to the rural nature.

The only reason I've heard of Morris Illinois, is beacuse our family used to drive to central Illinois to camp and boat, and Morris is directly on Route 47.Are you currently investing in Chicago or near you in Joilet Account Closed?

I know you won't, nobody ever does, they run away from accountability but I will ask anyways, please update the world to the flaming dung-pile it all plays out to be so the next people get spared the journey. 

However, after running the numbers accounting for insurance, PMI, taxes, vacancy, capX, property manager, etc. the property is estimated -1.85% cash on cash return (-$600/mo) once I fully rent the property.