In many cases, whatever weakness got them in that position (lack of focus, lack of drive, failure to take responsibility for their destiny, etc.) will also make it difficult for them to succeed in real estate. 

I recently helped a friend who was in a similar position - looking to tap into equity for a rental property purchase in Phoenix.

I give them pointers on how to build credit and over time most are in a position to "refinance" and pay off the Option. 

It doesn't work as well now because it's hard enough to be cash flow positive with prices + rates and where rents are at. 

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

@Bryant Xavier I have had the same fear about scewd numbers, so I love the idea of reaching out to hosts in similar positions.

Our end goal is to be in a position where we can be very selective and choose the clients and properties we work with so that doesn't happen.

-This is the salary I would require.In both arenas I also make concise requests. 

If you have favorable terms on those first mortgages, you might find that a HELOC or a second-position loan is more cost-effective than doing a full refinance or a DSCR loan.

You can very comfortably and at your own pace set yourself up for a very stable start by strategically positioning yourself to be able to buy a property this way if you start preparing now.I hope this was helpful!