Instead of using your personal income, employment history and DTI to qualify, a lender would look at the income or potential income of the property to make sure it cash flows after taxes and insurance are accounted for.

Hopefully they will get caught and never steal peoples money againHi Sandy,I’m out $20K+ because of them, and as a self-employed single Mum of two teenaged girls, this is a huge blow.

@Eric HemplerIf you are not employed by the sponsor then yes you must be a licensed broker-dealer.

More often, I see people in Chicago using the MTR strategy to side step the STR regulations.I've considered buying a SFH with an in-law arrangement in Chicago to use as an STR because to me that seems like the best way to employ the strategy.

I came out of that employment so wounded at what I saw and how it affected the two principals I swore I would never be  a syndicator the downside risk was just to REAL. 

Being that your brother lives here he must show he has employment here in NY he will be good for the loan using FHA.

Plenty of renters and although home to a state school the town does not feel seasonal due to the other major employers.

Running background checks on tenants, criminal, eviction, employment history are some way to determine if this is the right tenant for you. 

My brother in law works for them, absolutely loves his job and his employer, so very hard to be objective about deciding to invest. 

Thanks for the reply, job and employment data is should help me determine upcoming demand.