The right answer to this is they should lock your rate for 30 to 45 days and do so immediately upon your credit being pulled and the application submitted. 2.

I have a prospective tenant that filled out an application.However I need some advice on qualifying this individual.The current rent is 3600The applicant is a family The Spouse doesnt work The main applicant gross W2 income is around $10000 monthThe monthly net income is $5700No car loan's No credit cards balancesThey pay $800 month on a personal loan.Since a rent check is written after net income is received.

Are there any specific tips or knowledge you could share when speaking to lenders? 

Dedicate one checking account and credit card exclusively to real estate.

Great listen, check it out Hi Seth, thank you for that tip.

@Ian Rysdale I think you will find credit unions to have less red tape and are much quicker.

I have a partner that has the money to finance it with a really good credit for a loan.

The deal can make sense with a big credit and price drop in my opinion.

You could use a home equity line of credit to put a down payment on your rental(s).

I got 15% down from a credit union and then I bought all the furniture How did you add value to the deal?