Or, depending on the property you could go non-QM with like a DSCR loan and close in an LLC or partnership.

I am also on the loan.

You typically need up to two years of stable employment before a bank will loan to you.

The most important thing is to ensure your loan is covered in the event of a loss.  

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

If we include investments in mortgage loans (trust deeds), real estate partnerships, REITs as well as direct property ownership, I’m at about 80%.  

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Most lenders I work with would lend you 70%-75% of the value of the property, but only so much that your NOI/profit is 20%-25% of the monthly loan payment.

If you're using a DSCR loan to purchase the home, most lenders use the lower of the lease agreement or 100% of the market rent from the appraisal form 1007 to determine the DSCR.

Do DSCR loans qualify if purchasing through 1031 w/debt-carry-forward requirements?