They don't require employment verification, income or tax returns.

Having the property on your tax returns will help to wipe the mortgage expense with proposed rental income, making it easier to qualify for your next primary residence purchase.

Purchase price: $110,000 Cash invested: $60,000 Sale price: $225,000 This property has 2 units and 2 storage units creating 4 income streams.

Quote from @Zachary Kessler: Hello all I’m currently hacking my house that has an ADU dwelling that generates income, I bought this property intending to leave and rent the house that I currently reside in (2 bed 1 bath) I currently have a very good interest rate locked in here from 2022 that I don’t want to lose or have my mortgage called due from leaving here, I live here for very cheap with the income from the ADU.

How would I go about getting approved with no income history?

Think About Future Value & Target Demographics•Check the average income levels in the area.

Embarrassingly, I listed our property with the usual $50 pet fee (which can only be $35 now) and asking for income 3x rent (which is now 2x).

They have solid lease agreements designed to protect you, your income, and your property.Property Maintenance & Repairs: They have a network of vetted, licensed, insured contractors that can respond quickly and do the job right the first time.Minimizing Vacancy & Maximizing Occupancy: Their marketing reduces vacancy time.

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

From what I can tell, Charleston is considered a Growth market, Columbia an Income Market, and Greenville appears to be a hybrid (this is what I'm looking for).