If the use of the funds are for business purposes, like investing in real-estate, you will have an easier chance of qualifying for a loan documentation and income wise.

Wish I had the skills to build a spread sheet but computers aren’t my strength.

As an example, DSCR is based on the DSCR ratio and qualifying Rent to PITI ratio.

This would probably allow me to qualify for the FHA loan if this is true since the giant loss is throwing off my DTI. 

Improvements on property you own do not qualify.2.

If they only make $2000 and know their income has to be $3000 or higher to qualify, they can apply elsewhere and save the $30 application fee.

One thing to be careful with though is that if you go the personal loan route, you need to ensure your DTI is still fine and you will still qualify for your VA loan assumption AND the second mortgage.

@Joshua Piche with little experience, it's better that you invest locally vs OOS - unless you want to invest a LOT of time learning another market and networking with th right people.Locally, look for a 2-4 unit property that will qualify for FHA 203(k) financing. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

I am not a tax or legal professional so please take this to someone much more qualified.

We have a shortage of qualified applicants and conventional renters, which was created over Covid 19.