Allen Hua I would have to disagree with Jeff B. and say that yes, rental income can be counted when purchasing a rental property and therefore help your DTI by offsetting the PITI of that mortgage.

We go with Benjamin Moore, but that is the band our paint guy at a real paint store who knows his stuff, sells.  

If there are qualifications that it doesn't currently meet (i.e. minimum ceiling height or room dimensions, total minimum square footage, presence of heating and cooling elements, # of methods if ingress/egress, size of the window, etc.), then you'd have a problem on your hands if you purchased the property as a 3BR.

Naturally, newer developments have have vacants but less of them.Pick neighborhoods that have several garage sale signs or Estate sale signs or FSBO signs.Look for signs of being vacant i.e. boarded up windows & doors, FSBO signs, FRBO signs, tall grass, many newspapers in the driveway, no electric meter, many business cards and notes on the front door, a Notice from the City posted on the front door, No trash can on trash day and a rubber band on the mailbox handle to tell the mailman that its vacant.Once you find the deals, the above comments on building your buyers list and websites will come in handy to sell fast.Feel free to reach out if you have any questions.Hope this helps. 

I for one do not stand for it especially when people jump on a band wagon and start criticizing when they all have just agreed What I said does in fact exist.People- it is simple.

Typical the lower class the area, the higher the returns, and in Philadelphia I believe the sweet spot is in B and C class neighborhoods. 

If you do go with a portfolio loan, try to have it fully amortize.One of the reasons, at least in Kansas City that many are very very careful about buying in the C and D class neighborhoods because at the same time all of this was happening in our urban core in the Great Recession, those with BRRRR in A, B, and fringe areas, they were for the most part able to sell because prices were not so over inflated and the properties were easier to rent and keep rented because they were in better areas.

This is a perfect example of how bad initial legislation required MORE bad legislation to band-aid itself. 

@Scott ChristopherScott,The largest red flag being waved at your potential project is clearly it’s hard cost.Therefore, before entering the dimension of what I call “the illusion of progress”, and spending time and money with 3rd parties you would be wise to focus on what the value of your deal looks like.Value drives and determines everything else.If your product is for sale, you should take the gross sales and deduct commissions, closing costs AND your target profit margin from it and you will have the total budget amount that you have to work withIf your product is for rent, you should determine its Gross Potential Rental income and use that figure to calculate Net Operating Income and divide it by an appropriate cap rate to determine the project’s capitalized value.Use the same method noted above for the for-sale product to determine the total budget for the rental product.Once you have your total budget, you will also have a very good idea about the project’s performance and feasibility.Hard and site costs typically account for about 70% of total project cost.

I would guess cherry picking is going on and then B and C's are sold off with what is left over.