This property would have multiple income streams, including as an airbnb, wedding venue, bed and breakfast, corporate retreat. 

Another way of looking at this is JWB get the 4.4 moths of rent in 2020, I loose 2 month more due to vacancy, so all told my very first actuall income for this property will be... wait for it...

Great credit scores and plenty of income from my W-2 source. 

He lived in one unit for two years, fixed up the property, and gradually increased rents.

Quote from @Jacob Sherman: can do a no income no doc ground up construction loan .

There are people who overpaid in the last year, but they would only be in foreclosure problem if they lost income.

Think about it, if you are buying something at a 5% cap rate, but interest rates are 6%, the debt payment exceeds the income.

Generally we raise capital from investors who want a fixed income and have enough meat on the bone to keep all the equity in the deals and push the valuation and also obtain commercial financing where we can get 75-80% LTV financing and still maintain a DSCR of 1.2+2.) 

Passive income.

You can also leverage stable income for creative financing and explore BRRRR in markets like Rochester to build equity and cash flow.