The number of DSCR (Debt Service Coverage Ratio) loans a lender will offer can vary depending on the lender, your financial situation, and the property cash flow.

Eliminate debt, establish a budget, and save.

Eliminate debt, establish a budget, and save.

@Duarte MarquesPossibly but highly not recommendedFor those with no real estate experience or experience in taking on debt, it’s not easyTo do it also with little to no down payment or reserves in most occasions will end in disasterReminds me of when in high school a friend used to let his dog drive his car.

If there is no debt service probably 30% is still going of the rent is still going to operating expenses which means that you only made about 480k or so. 480k rents + 800k property is the same 1.3million roughly.

Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.

My occupancy rate is probably as good as anyone, and one thing I do is never have a high debt load then turn that around and award my tenants with rental rates they can't match elsewhere. 

MYTH: transferring debt to heloc will pay Debt off soonerBUSTED!

Debt is rarely a factor in their issue. the ultra wealthy I know  with a few exceptions have very limited debt.. to no debt. 

If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value.