In most cases they do not want the tenant paying greater than 30% of their income for rent and utilities.

. - Some credit bureaus and services (like Experian RentBureau or Esusu Rent) offer alternative credit reports that include rent payment history, utility payments, and other recurring bills.

- HELOCs are best utilized when they cover the entire purchase.

I found a lot of issues such as concerns with utility capacity, storm drain easements etc. that we eventually resolved and turned out to be minor but could have been show-stoppers.4.

Let's assume for a moment that townhomes are an approved use for your property, I would want to quickly determine the availablity of all necessary utilities to service the property.

It all comes down to utilities, and insurance.

Checklist: Here’s a quick checklist to get you started:Get a home inspection (optional but recommended)Fix any outstanding repairs or issuesCreate or customize your lease agreement (covering pool/fireplace)Set up tenant screening processesTake detailed photos of the propertySecure proper insurance (consider rental-specific policies)Establish a move-in/move-out inspection processClarify utility responsibilities in the leaseConsider a property manager if you prefer hands-off managementDon’t worry, you're on the right track by doing your due diligence.

For that you have to utilize our 2-step program (as referenced  above by @Clint Jusino) or wait the 12 months for a conventional loan. 

Many times, permits, utilities delays and material issues are but a few.

Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.