To add to what @Chris Mason said, if you choose a Freddie Mac. loan, it will be .5% of the outstanding balance as to what the assigned payment will be while its not yet showing a payment on the credit report.

We went to sell and the City put over $6000 in outstanding water bills for 6 of the 10 units as upcoming liens on the properties and now showing on HUD as expense to Seller(now us). 

It is important to note that you have only explored new construction with us, which is great because I think new construction is an outstanding option for a newer investor.

The builders will not finish the work if you close with outstanding items.

(at least, that's what I think/hope will be the case)I did use the calculator using my outstanding mortgage balance as the purchase price of the property and I included forecasted tax and insurance expenses as well as including lawn/property maintenance costs AND I calculated it using 10% property management.

Ask the loan officer if there is somewhere else to list all debts and their outstanding balances. 

If there is a deck or patio that looks to be sagging or poorly constructed, it could have been built without a permit (not inspected and not done properly) call the building department as ask of there is anything you may need to know about that specific property. there could be outstanding fines.  

LOLSo when investors go into asset class's that promise very high returns.. the promise is based on performance. and performance is a fleeting thing in these areas when you take into account the demographic of your tenant base.. the tenant base is highly transient and turn over happens turn over kills rental returns. 

@June Veenstra Hey June,  I am in contract to buy a 4-unit building in Union City, just working with the city to resolve some outstanding violations, etc.

Next step would be to make sure the subdivision plat was finalized with the local  planning dept. and check for any outstanding money owed.Are your lots in Conyers?