I'm sure it is a mixed bag- but this gives me an idea that a smaller percentage would be difficult.

Are lenders lenient with a high percentage of 85% of my $400,000 or will they give me much less?

You can use city-data to find owner occupied percentages for neighborhoods.

Also, keep in mind that the amount of equity isn't as important as the percentage of the value of the property. 

Definitely file your Schedule E's when you do your taxes, that way you can provide them to the bank and hopefully get more borrowing power since they will use a percentage of that income towards your other income to determine your loan amount. 

Howdy @Charles S.For CapEx using a percentage is ok for initial analysis.  5% for close to new condition and 10% for needs a lot of work.  

I recommend talking to a few commercial lenders in your area that you'd like to work with (prioritize the smaller banks, you'll get better service) and ask them in advance what their criteria is for debt service coverage ratio and the percentages they use in their underwriting for vacancy, reserves, management, etc and how much flexibility there is in those numbers.

Think fixed costs like plowing, roads, taxes don't have as much room to be spread around so might be a few expense percentage points higher. ( and you will always want to hammer down on actual numbers).  

Vacancy, CapEx and Repairs are all set at 6%, that seemed to be a reasonable percentage for homes built within the last 30 years.Great to be part of this community.

@Ronald Rohde, Is your first point in regards to being able to gain a high percentage of the monthly rent from tenants while the other % goes to the current owner?