Quote from @Jaikevis Reams: In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do? 

Since the rent roll was too low, she had to secure financing through a private lender that based the loan on market rent rather than the current rent.

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Hey Patrick, This would be a DSCR loan.

Its a tiny loan for any institution.You'll have to get hard bids from a local GC, but maybe $110/ft?

If you close with a conventional loan, it will need to be in your personal name.

Loan interest is deductible based on the use of the loan, not the asset securing the loan. 

We just had our 3-year loan mature on 2/2/24.

It’s because having cash available doesn’t not necessarily mean the borrower has the credit CAPACITY to obtain a loan.