To add to it, not sure about your state, however in Mass, families are a protected class hence we cannot discriminate tenants or applicants based on their family orientation.

I'm based in NY.

That's why I want to leave the marketing, underwriting, servicing and potential default negotiations to the professionals.My role is to evaluate loans based on my needs and risk-tolerance.

@Travis Peterson  You’ve got different options based on your personal financial picture.

These are income based loans and rates will depend on your credit score and loan to value (LTV).I've seen programs where values determined by AVM (automated valuation model), not a full appraisal. 

Don't run numbers based on STR or MTR, run the numbers based on the worse case scenario which would be LTR.

Both a cash out refi and a HELOAN have options to qualify you based on FICO and the income from the property - your income, employment and DTI are not factors in this case.

If applicants don't meet these criteria, then we would typically allow them to use a US-based guarantor with an income of at least 80x the monthly rent.One more thing- Don't make exceptions based on personal stories!

You can also charge based upon tenant qualifications = chance of damages.

Are you Military and have to live off Base?