If nothing else, offering a small reward like a gift card to their favorite restaurant (ask when they initially sign the lease) helps.

@Joe Villeneuve I have a similar situation, I have a 743 fico score, with a credit card that have a remaining 12,000 to pay off a 20,000 card.

Alternatively, you can try and figure out your DTI (debt-to-income ratio), that should give you a general idea as well.

Debt adds risk AND reward. 

Leveraging debt would be best, not cash (in my opinion).

-We have debt pay down, as our tenants progress through the mortgage-We have tax benefits that enable us to trade up or simply claim deductions.What refinancing does for YOU is allows you to catch those profit centers.  

A Heloc is a open end mortgage like a credit card so its an additional trade line on credit, cannto never be used as an Asset, PITI reserve, and its a DTI killer in most cases.A heloc is also usually set up on a shorter term versus a mortgage, carries a Higher interest rate, and most carry a interest only with a prepayment penalty.

Using equity can be a powerful tool for building wealth, but it’s essential to ensure that you’re comfortable with the level of debt you’re taking on.Consult a Professional: It might be helpful to speak with a financial advisor or mortgage broker who can help you weigh your options and determine the best course of action for your specific situation.Best of luck with your move and the rental property!

For example DSCR (Debt Service Coverage Ratio) loans look at tax returns to see how a property performs in terms of income and expenses to see what loan amount is justified. 2.

If you had 50k in credit card debt for business startup costs (not real estate) with a 3-4-year plan to pay it off, high debt utilization in the meantime and a 620 credit score - but wanted to start investing in rental properties - what would you do with 20k that falls into your lap?