As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

@Brice Alef-TorrisiHaving one checking account per property is an excellent way to keep your property finances separate from one another and your personal finances.

4) Finding a rental application to use - you can use Zillow's (but incomplete) many realtors require NTN credit check, background check and rental history.5) Figuring out how to screen applicants ***** This is IMPORTANT!

If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

True re the prior poster, re this helping the seller save their credit, if you buy sub-to you will dramatically raise their FICO since the mortgage will show on-time payments.  

If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.

Go wtih what works - but intelligently.We offer a free month of rent, but to avoid desperate people, we credit 50% towards their 2nd month (to make sure they can afford 1st month rent + SD) and then credit the other 50% the 5th month.

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.

When your LLC takes a loan, expect as members to personally guarantee the debt.

When you say that you will "screen" prior to showing, does that mean a full application with backrgound and credit checks?