That isn't to say, however, that the listing price IS the value; if you think it is listed high and has been on the market for quite some time, or you think it is low and just went on the market, the listing price can help confirm your valuation (as opposed to being a substitute for it).

So thanks for your confirmation.

The remaining money is in a reserve fund which we are dipping into to replace the roof on my grandmother's home.

Currently deployed to Afghan while in the Army Reserves and still running my business.

That would be something to discuss with a lender.To get an NOO loan, you would typically need the 25% down payment, cash reserves, a middle credit score of 660 or higher, and a DTI under 50% or so.

If you have good credit (660+), good income (DTI with the new loan < 50% or so), and cash for a down payment and for the required reserves, getting a bank loan is straightforward.

If I can mortage 100%, 14% interest, and still cash flow, using 50% rule, im fine with it. when i started I didnt have money to carry properties for 1 month unrented, guess what, i worked harder, faster, and made it work. kinda wish now a days i had no reserves, although my reserve fund is TINY compared to most, I think if I had NONE I would be at one of my empty recently vandalized properties right now replacing sheetrock as oppose to being on BP!

Second, I would look at the Federal Reserve very closely.

you can have up to 10 fannie/freddie loans, loans 1-4 are up to 75% of appraisal, loans 5-10 70%, increased reserve requirements on 5-10 and no cash out on 5-10,,,make sure you do the 4 cash outs before you buy your 5th property

I want to keep my cash reserves available for incidental expenses/taxes/closing costs/inspections etc, and pay towards principle in the future, if possible.I realize I'm making several assumptions here, and have been light on many specifics.