It's probably best to go to local Credit Unions and small banks for those than large institutions at the moment.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

I talked to two different local credit unions about pulling 300K in locked equity out of our former primary home that we converted to a short term rental last year.

The notice of sale must include an executed duplicate original of the third-party purchase agreement and make available specific details about the property including the most recent rent roll, list of vacant apartments, income and expense report for the 12 month prior to the notice and any other information the Housing Commissioner may specify by rule.Tenants’ first right to purchase the building before a third-party (‘Right of First Refusal’)Tenants in buildings with five or more dwelling units have a period of 90 days from receipt of ‘notice to sell’ to form a union to exercise their “right of first refusal.”

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Ziprent found me a tenant with an 800 credit score in 7 days near the top of the market rent for my condo during slow season!

With Conventional, your brothers do NOT need income, do NOT need credit scores, DO need to be on the loan and live in the property for 1 year.

The interest rate they gave me at us 7.70%, 5/1 ARM, rent to debt service ratio is 1.21My credit score is 672.

There are 80% LTV cash out refinance options and 85% LTV for a single family rental purchase if the property is cash flowing (DSCR ratio of 1) and the credit score is high enough.

And where do you think you can get rents.We've been able to secure 80% loan to cost on these types of deals with a credit union recently. 6% is a good rate, but I would see if you can shop around the LTVGood luckGino