In an environment of rising rates, time is your most crucial factor.2.

Considering the rising interest rate environment and your risk appetite this may be a debatable response.

My banking friend mentioned that with new regulations banks aren't making these types of loans since the owner doesn't have enough income to sustain the loan.  

If not, try to get an engagement agreement signed with the seller in the position of acting as a mortgage broker, depending on your state's rules and regulations. 

@Orlando CestonaUnfortunately no because the IRA regulations prohibit the IRA owner to use any of the IRA owned assets for personal use.

If you operate by strict guidelines as indicated in your state landlord tenant regulations you are neither a bad or good landlord.

The key is to go with what environment challenges you, supports you, and lifts you up at the same time, while you being able to do the same for others in the group.

Now is the best time for you to prepare yourself to be a investor by sitting down and learning all your provincial landlord tenant regulations.

The landlord tenant regulations and tenant friendly legislation is the root cause.

It requires careful planning and strict adherence to a number of rules and regulations, but if you do it right, you get lifelong rental income for you, free equity for your kids, and no taxes.