Financing is also easier since lenders prefer predictable rental income over the fluctuations of STRs or MTRs.Short-Term Rentals (STRs) and Mid-Term Rentals (MTRs) can be lucrative but require more hands-on management.

Wife and I are both self-employed so acquiring a traditional mortgage is challenging based on our "on paper" income.

Figured there would be a few data points left out of the equation' that I would need to circle back with :) .There are additional units not rented at this time which could be rented to increase the income.

Your debt to income will be calculated per conventional guidelines and if you qualify with both your current mortgage and the new mortgage plus all the rest of your debt you are good.

I  Income:  The amount of property you can buy will be dependent on your Debt to Income ratio.  

One final point:We pay tax on every dollar we earn over our lifetimes.

IF you have super strong income and you and have a lower 1st lien, lots of equity - MAYBE your best bet is using a local bank or CU to get most competitive HELOC inv terms.

I currently have a pre-tax retirement account with employer match and a Roth IRA invested in the stock market.

It’s just not expected by the tenant base, and I’ve found that supplying them creates more headaches than benefits.Here’s why:•More maintenance & costs – Tenants in lower-income areas tend to be rougher on appliances.

Our mortgage at the moment is around $2100 including taxes and insurance, this would obviously go up if we do refinance.