no banks, no credit , no W-2, no proof of income needed. 

Is there an issue with getting set up with one or more of the credit bureaus and starting to report on our borrowers?

Should I check into local smaller banks here or Credit Unions? 

@Travis BoydYou must have put down a pretty good down payment for only a $2400 paymentIf anything I would get a line of credit versus selling as you are also gonna lose the rate on your home and who cares if you are paying taxes over $500k is the way I look at it.

Hi Elwin, first off let me say that I give you a lot of credit for investing again. 

Are you looking for near perfect credit, or are you open to some dings? 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Matt J.As an out-of-state investor in San Diego, key tax and legal considerations include filing a California non-resident tax return for rental income or capital gains, managing double taxation with potential tax credits from your home state, and complying with withholding requirements on property sales.

If you want me to give you a quote, I'd need to know the address, 1st lien details (type of loan, balance, interest rate), credit score, income/DTI details, and target LTV (can go up to 80% CLTV on the 4plex). 

By this time next year, we aim to have invested in our first rental property and improved our credit, setting a strong foundation for a successful and fulfilling future.I am open to any knowledge or advice anyone has to give as I am currently learning about real estate investing.