My though process in undercutting the bank by 1 % was to possibly attract qualified buyers.

Can your wife qualify for REPS in theory?

To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.

Rev Proc 2008-16 does create a safe harbor for your investment intent at 2 years of investment use coupled with  some other qualifiers.  

This transaction involves the sale of your relinquished property through a Qualified Intermediary.

For example, would a temporary work visa qualify?

Each DSCR loan is separate and qualifies separately, so one doesn't necessarily affect the other except for the liquidity needed to close since you'll have multiple down payments/closing costs for each transaction.

If it's a DSCR loan, you could get up to 80% LTV if the property qualifies.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.