There are lots more rules and the process is very technical and unyielding.Consider AB-175 which clarified SB-1079 and significantly tightened it.Call the trustee that represents the lender and ask them what they require.

Quote from @Neil Warren: what are your thoughts/experience with turnkey for startingIf it's your first investment property, turnkey is the preferred method to learn and not expose yourself to unnecessary financial strain. 

- It gives you peace of mind to know that should a loss occur, having funds readily available to replace lost items will reduce the strain on your relationships.- It’s very inexpensive and easy to obtain a policy.

I'm told it would not only be a strain on me, but a strain on them to process that many payments monthly.

We have had lenders call due - and we cure.I am looking for a discussion amongst investors on how to overcome the poor teaching by gurus, tighten up the industry, and get solid wraps accomplished.There is no harm to the lender when a wrap is completed. 

To find a partner or not get pitched and streamline what you want, you must tighten up your buy box and take advantage of your VA opportunity.

And if you're straining to put 25 or 30 percent down, when that extra cash could have gone toward down payment for home #2, I'd rather have the second investment.I just posted on this thread here about how the demographics are such that there are just going to be more buyers than homes available for the next several years, so prices aren't likely to go anywhere anytime soon.

We wanted a beach house for a long time, Florida seems problematic lately with raising costs and tightening str restrictions.  

Why should we cut losses....Financial Strain: This is not working and is going to have a significant impact on finances.

More Stringent Lending Conditions: Some traditional commercial lenders, specifically local and regional banks, have been pulling back and tightening their lendingCONCLUSION: Asset prices are under pressure as required refinances over the next 18 months push owners to accept less favorable terms or give up equity to private real estate lendors3.