What’s the qualifications for your program?

Grant (Loan) Terms and qualification are changing if not daily, weekly. 

I found this on Fannie Mae's site that suggests it could be classified as a primary residence even with me not occupying the property, but not sure what the exact qualifications are or if it'd still be applicable, as I currently own a residential rental & own/occupy a condo in TX.Has anyone run into this situation before, or have any thoughts? 

Understand Dodd Frank when applying credits and lease options; Lease purchase agreements can be a way for sellers to find a buyer, acquiring both a buyer commitment for the future as well as rental income now, to defray monthly obligations; A seller's offer of lease purchase can also attract a buyer who wants the property but needs a little additional time to complete loan qualification and does not want to or cannot make an immediate down payment; terms of payment in a lease purchase should conform to local rental data for comparable homes; the amount paid monthly to be set aside for down payment of closing costs should be in excess of the going rental rate; if not, the lender arranging the mortgage at lease end may not accept the set aside funds; instead, the lender will disqualify the funds by declaring them a "gift" from the seller to the buyer; lease purchase documents should be drawn up with legal counsel to address eventualities such as the buyer not qualifying to purchase at lease end or a market value decline impacting the agreed purchase price and lender's terms. 8.Selling to Relatives - Selling to relatives can be a good option if the seller is having trouble moving the property or if they desire to keep the property in the family; if the property is owned outright, there are few challenges, but if a conventional loan is needed to complete the deal, it can get tricky; creating conditions where a lender is convinced that this is an "arm's length transaction" may be challenging.

Is that qualification the same as or different that qualification for being an Active vs a Passive real estate investor or Professional vs non-professional investor? 

At the same time, it is practical and useful information unlike the pre-licensing and exam topics.I got my license as a "just in case" qualification and have not represented buyers or sellers in any transactions.

So this doesn't apply to people who have a w2 job and do this also, at least not the unemployment part.The money is a loan that has to be paid back.Heloq and cash out refis are probably as cheap at 3.75% these days.So if someone was a PM doing vacation rentals it would help them or if someone wanted to borrow money and go in debt or further in debt this would help them.I wonder what qualifications the SBA will require to borrow this money and what the length of the loan would be?

I get it.BUT, Tenants need to understand their future when they decide to collect Cash and not save for times when they are NOT working.For instance, if you are a Nanny, getting paid cash, you are not adding to your qualification to Social Security or your retirement.

But I would raise my minimum qualifications , credit score up to 675 , First AND Last month rent with security deposit .

I’m curious to know what is your steps and qualifications to know this is a good rental property.