So it's not the same as bank which might do 2-2.5x once debt payments are factored in. 

Debt: Seller FinanceEquity: Raised capital from friends and family How did you add value to the deal?

Orginially I was evaluating deals and account for tithes, but after expenses, debt service, and reserves.

To your point, yes the larger check writers want more of the upside, control and will also do a more thorough look at the sponsor to understand where the GP equity is coming from, who is guaranteeing the debt etc. etc. 

The capital stack is approx 70% debt, 5% pref equity and 25% common equity.

This often breaks even on your current properties making them more or less a non event in your debt to income ratio. 

They generally charge 1% for debt introductions and 3% (although I’ve seen up to 5%) for equity.

We found our forever home in the neighborhood we wanted by driving the entire neighborhood, adding the properties using DealMachine, and then sent them all handwritten greeting card letters stating that we're a new family looking to move into the neighborhood and if they had any interest in selling to please call us. 

Will the bank count all of the debt against my income, half?

Meanwhile, your expenses, like debt service, taxes, insurance, and maintenance, continue.Once you choose an investment city that meets all the above requirements, select a tenant segment with the right income behaviors.