We learned the hard way not to listen when, for example, your loan officer says it's best to run your credit again after 90 days to keep your pre-approval active when we didn't find what we were looking for in the first 90-day window, that it counts as separate inquiries, even though we hadn't purchased anything and it technically was for the same purchase goal.  

Also, you have to worry about deferred maintenance by a landlord trying to sell a property.Always count on the first year being a year of fixing everything.

Of concern is that since our w-2s don't reflect 2 years of landlording experience we still will be carrying our other mortgages in our debt ratios so until that income starts to count it may be increasingly difficult to fit another 1 or 2 homes within the debt ratios if we go the conventional route.Thanks,Raky

I've gotten two breaks so far (unfortunately the units counted are only 5+ so it doesn't help when I buy a 1-4).

Theoretical economics doesn't always survive its first encounter with actual human behavior.Now, does that mean we can or should *count* on that happening in Denver?  

I don't count my chickens before they hatch but want to get my eggs in a row. 

Don't count on them year after year, you may get some but I wouldn't bet on it.....  

. :-0 I don't remember the brand or what we paid, but its similar to this: http://www.homedepot.com/p/KitchenAid-12-in-Counte...The "stove" is something along these lines http://www.homedepot.com/p/Magic-Chef-Double-Burner-Portable-Cooktop-Black-MCSDB15B/204984548 

When finding comps make sure that your comps are within a few blocks (Philly is very block by block specific), within 20% of your finished square footage, similar bed/bath count, and also a rehabbed property.

My guess the only way for the  banks to count this income would be through income showed on taxes!