First, banks do not prefer W2 income over 1099 income at all.

I run multiple properties in B or C area and I maintain super host status every quarter.

@Jeffrey Bourque Are you planning to finance this with a local bank or credit union?

During the entirety of 2021, I hosted monthly meetups in Fairview Heights, IL (just outsde of Belleville) that brought in real estate investors from the metro east.

-Local banks were the best.

Once pre-approved, gather your financial documents like pay stubs, tax returns, and bank statements.

I still don't have a receipt or record for the transfer outside of my bank record. 

This way, I can get the bank statements for the property and categorize and reconcile everything. 

You might find a local credit union or community bank that will go to 95 -100%.At one point I called 2 different VA Regional Loan Centers regarding this section in the VA lenders handbook:Assumability - The second mortgage should not restrict theVeteran’s ability to sell the property any more thanthe VA first mortgage.

Ive been hosting a monthly meetup the past 3 years, and it's been a great resource for myself and other investors.