Income greater than 3x rent, 620+ credit score, etc. etc. 

But then still paying 5k and also covering repairs.It just seems incredibly risky to me. 

However this is not happening so much in Nashville as it is still incredibly expensive and desireable. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

My front end DTI is 26% and my back end would be 39% with the second mortgage. my credit score is around 710-760 depending on the reporting agency.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Have some quotes going the DSCR route however fees and rates seem on the higher end, we have 790 credit score, good W2 jobs so documentation is not a problem and we don’t have an issue putting them in our personal names, but have had the MFRs for less than a year and operate out of MD.

There are programs that let you buy an investment home as an resident alien, or Foreign National.You can focus on a DSCR program but in most cases need to have a credit score established best to be above 720.

Now that Fannie/Freddie have gone back to 5% down on multi units, as long as you have good scores and dti, conventional may be the best option.Be careful of lenders promoting no PMI options.

NACA was formed in 1988 and provides an affordable option for potential first-time buyers:✅ No down payment✅ No closing costs or fees✅ No mortgage insurance✅ No consideration of credit score✅ Below market fixed interest rateThere are several requirements to be eligible, starting with attending one of their workshops.https://www.naca.com