I would imagine most misrepresent their sources and uses when they apply for their financing.

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There is certainly room and reason to apply different approaches and many different approaches can work well. 5.

Yes, a rule of thumb COULD eliminate a good deal if not applied correctly.

But this has me wondering what would get me a 4 star review and what template would apply.

•If you can, raise rents or find ways to increase the property’s income before applying again.Have you already tried talking to multiple banks, or is this feedback from just one?

This is a very valuable skillset to have in your arsenal as an investor that can dramatically increase your net worth in a short period of time if the strategy is applied correctly.  

Is there other market wide metrics that apply here? 

Best part is NJ is not what its made out to be in terms of landlord friendly, the state gets portrayed as the entire state being bad when really most wacky laws are in the major cities and they apply to 5 units or more.  2-4 unit multi families fly below radar per say. 

Stamping a promissory note with for deposit only - no recourse, then applying initials or a signature of anyone but the note originator, and depositing it into a DDA account, also is a felony and renders the contract void.