There's many variables, such as state real estate law, how do you hold title, what agreements do the two of you have, etc.

Vacancy Rate - 8%Insurance - $750 / yearMaintenance & Repairs - 10% of gross rentsAdvertising - $150 / yearAdmin - $150 / yearClosing Costs - 3% of purchase priceI didnt forget property taxes - its so variable I left it out.

The are so many variables that you can sort by.

Thus, its underwriting is static because any future variables don't effect it.

So many variables at play nobody can tell you what to expect.Every lender is different with overlay rules.

There are way too many variables for most inexperienced individuals to accomplish this on their own, even if the bank would allow it.

Some things to consider and variables you may want to change....the list you are mailing to and area you are targeting.

Along with the other variables mentioned above you should also consider your claims history and how you run your rental business.

The variable income is not something lenders like.

It just sounds like there are so many variables and problems on this deal.