First off to be clear when using income for these screening purposes its GROSS income (before taxes).

I have had investors pull equity from their homes in the phoenix area to buy cash flowing properties in Fayetteville and similar areas, because the price growth in the phoenix area generates amazing returns.It depends on if you want cashflow now or delayed gratification later.Keep in mind that when you do sell, there are costs to selling and depreciation recapture  and IRS taxes, which eat up most of your "equity" growth. 

I would be beneficial to determine if they are other aspects of the property that make it a worthwhile investment (tax, appreciation etc). 

Cash flowing markets, low taxes, landlord friendly and large demand in renters. 

Florida has some strong rental areas, but things like insurance, taxes, and property management can vary a lot depending on the city.If you ever want to compare notes or chat about market trends, happy to share what I’ve seen!

Just a heads up this will not be tax free, it will be a pro-rated exclusion.

Plus, we haven't even talked about the tax deductibles, depreciation, and how the house hack has the potential to off-set your taxes, which is another aspect way of making cashflow (obvioulsy verify with a CPA).

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

I strongly recommend consulting with an employment attorney—search for one in the area where the business is operating.

DSCR qualifies borrowers with rental income rather than personal income, so you don't need tax returns.