But that could lend you a great deal of flexibility.Personally, the lowest I have seen for down-payments for investors is 15% and there was quite a bit of qualification that went into that.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

The interest only payments are fully tax deductible in most cases too.More Competitive Rates with Lite Doc Loan Qualification - Many ARMs are lower than Non-QM and Private Money rates right now.

During the pre-qualification process for the primary residence, the lender did not count the investment property as debt because the monthly payments did not come directly from my personal account.

I want to purchase a property within 6-8 months of finishing my loan payments and ideally I would use this year to continue learning and crunching numbers on properties that I find for practice, but have no idea what my budget should be because I have no idea what loan amount I might get approved for...I would like to do FHA for the 3.5% down and looking at qualifications I should be able to qualify, but I feel like until I actually sit down and see what exactly I can get approved for, there is a huge gap in my planning...

@David Ingram that's not required by all lenders (in fact, I've never had a lender ask for this), but it might be required of some lenders...and it's possible more lenders are requiring it these days, since many are tightening their underwriting requirements.  ..whether or not lenders require it may also depend on the borrower's overall financial picture and DTI (I'd suggest asking your mortgage broker whether they require this of all borrowers, or just in certain circumstances).Also keep in mind that not all lenders/mortgage brokers are the same--if you go around to multiple mortgage brokers, they may give you different qualification amounts, different terms, different underwriting requirements, etc.

If they opt not to accept the property by declining to timely give you a non-refundable reservation fee or actually sign the lease with a full security deposit and first month's rent THEN AND ONLY THEN should you process the next applicant.You should not process multiple people and select one subjectively; you're asking for trouble with fair housing when someone claims they were discriminated against.Offer the property to the first one that applies that meets your written standards for qualification.

But if you don’t meet the qualifications of any of their lenders your deal will eventually fall apart due to requirements they demand that you can’t meet.  

These mild qualifications you get rid of the majority of time wasters and can focus all your time on the serious clients. 

What do you all recommend if you have multiple applicants that meet the rental qualifications?