I was preapproved with that amount before, but it was for a single family, primary residence about six months ago.

DSCR or Fannie/Freddie loans can go up to 75% on single family homes, multi family homes (2-4 unit) max at 70% if you stick with Fannie/Freddie.Other things to consider would be:Paying points for a lower rate vs higher rate with no pointsIf going DSCR - Prepayment penalty term (0-5 years)The lower the loan size ($200-250k and lower), you should consider paying up to 2 points and doing a 5 year prepayment penalty if going DSCR.

I'm also happy to share access to a spreadsheet where I track Single Family, Multifamily & Rental Inventory for the Pensacola Market(Escambia & Santa Rosa Counties) each week. 

I bet you could make little to no money in 20 hours a week.

What type of property do you plan to purchase(Single, multi, commercial, etc) and where do you plan to buy it?

If you are single or married with a small child, buying a duplex or 4plex should work well.  

Hoping to go down one of two paths:1- Buy a condo or small single family home and build equity and create value with my maintenance/construction background.2- Find a cash provider to do this on a larger scale with a 3-5 unit building. 

I own a single family home in Socal that my wife and i currently living in.

.: Hi Everyone,I am relatively new to rental properties and currently own 3 single family properties as rentals.

Once you take over a property as an owner occupant, if it is a single family or condo you can live in it for 1 year and that automatically exempts your unit from rent control.