These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).

Lastly, if the tenant does become delinquent and we have to file a claim with Rhino Insurance to collect their deposit, we're adding to the financial woes of that tenant and putting them into an even worse financial position when they wouldn't have qualified in the first place.Thoughts?

What are fees associated with the Qualified Intermediary holding onto this money?

If it needs that much work will a traditional lender finance it and are you qualified to get financing?

If you are looking to use rental income instead of personal income to qualify for mortgage, you'll be looking at commercial financing.

You might want to consider doing a house hack to help you qualify for more.

How much sq footage does the lot need to qualify for an ADU?

If these groups are significant, it suggests there’s pent-up demand that could enter the market when one of two things happen:Rates Drop - Rates fall to levels that allow more buyers to qualify for the homes they want.Buyer Expectations Shift - Buyers realize that 5% rates aren’t coming back soon and decide to move forward.Based on the increase in activity I saw in Sept and Oct in my business, when rates hit low 6s, I'd say my market has plenty of pent-up demand. 

As long as the property generates enough cash flow, you may qualify based on the asset alone.Another route is to explore portfolio loans from local banks or credit unions.

So I'm seeing units being held back for longer... sometimes months to find a qualified bulletproof applicant.