Additionally, the permitting and approval process for sprinklers can add up to three months to a project’s timeline.

This option can allow your property to cash flow at a higher rate because the monthly payment would be cheaper than if you were to have a conventional loan; then once rates come back down you can decide to refinance on to the traditional 30 year fixed.They require much less for pre-approval and look more into the asset that you're looking to purchase than they do things like credit score.I hope this helps!

I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.  

Still, you may not have to submit your tax returns. more info would be needed to know for sure, reach out to a seasoned loan officer for pre-approval and see if your situation would allow for this. 

So if you suddenly find a great deal and want to go for it, a tax return showing a massive loss could hurt your pre-approval chances.That said, if you’re not planning to buy anything else soon, deferring the depreciation might not be a bad move.

I'm currently awaiting 24hr notice of sheriff eviction, and I got court approval to move forward with money judgement for past due rent collection.

Do not allow new roommates that haven't been approved by you and added to the lease.2.

•This additional income can help offset costs and increase your total reported income for future pre-approvals.5.

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…

This unit has already been indicated by the city that it can be approved as a 3rd unit.