Congrats on the pending closing!

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

Curious why you want to focus on multi-state and not close to home?

Quote from @Ryan Davies: We have heard of them but have chosen not to close deals through them since we have found better options.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.

However, if a deal falls through, we'll keep searching for more deals until you get one closed. 

You might want to explore One Time Close construction loans.

Sellers and Brokers need to know you can close. 

Close date comes and goes and still not a word from the seller.6.