Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

I'm not trying to time the market. ..just interested in people's opinions for me it was based on my experince I started in RE in 1975 and the 10 year cycle seemed to hold true right up to the GFC at least on the left coast..

It is DSCR based and no personal tax returns are required to qualify.

Reason why is if you go to sell it, people are not going to comp it based on 40 year loan.

 @Deepak Malhotra based on your sales price, I assume this was also sold many years ago.

In high-cost markets like Chicago, that can be tough to meet.If you're looking at a duplex, the self-sufficiency test doesn’t apply, so you’d just need to qualify based on your personal income and the rental income your lender allows.If your current lender isn’t familiar with making FHA work in your situation, it might be worth getting a second opinion from someone experienced with FHA multi-unit financing.

Hi Mike,I'm a Los Angeles area based mortgage broker that can assist.

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.

Quote from @Dean Harris: @Mike SferaThis is a great question and one I get from our client base often here in Memphis, TN.

People were so quick to say he was way off base.