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@Jaekwan Lee what price do you have to offer so rent covers your mortgage, property taxes, insurance and other expenses?

The property we were looking at went under contract (for more than we were willing to offer).  

I would love to know if there were a compliant way to offer shorter stays. 

A QI too big to offer you personal serivce so you can take advantage of their knowledge isn't going to help. 

You also have to consider loan amounts typically need to be above $250K will carry a 3-5 year prepayment penalty.The biggest thing I see is loan officer are quick to offer a pre-approval for you but the fail to run the DSCR/Rents ratios up front.

So here it is: Asking price: $70,000What I intend to offer (if I offer): $45,000.

If anyone could help me get a mortgage or point me in the right direction, I would really appreciate it.Hello Rico,You could try to find homes where the seller is willing to offer seller financing or rent to own terms so you do not require a bank loan.We do a lot of creative financing deals in several different markets.Feel free to reach out with questions. 

If I was going to offer to sell a tenant a house like this, first I would want to know why they can't buy it today and understand that they have a solid plan to rectify that.

@Bryan BegunAs a former CA resident living in SLO for a long time now in the Reno area it has more to offer than I expected as first.