The coins (or credit cards these days) your tenants drop into the slots should more than compensate for their costs.

Fast forward 3 years... we’ve both built our credit, bought our primary residence, have two kids with a third on the way, solid middle class jobs, and some consumer debt.We were gung-ho to get going in 2019 after bonus and tax time to get a rental property finally.

Hi,I am in the process of deciding a tenant whose credit score is 556.

I have excellent credit, steady income and plenty of cash reserves. 

I have funds and also available credit to front the rehab costs.

They are over doing it with extra appliances, the building is wired terribly, and the circuit breaks each time they put the microwave on the wrong circuit.

My credit score is great (770), I have enough for another down payment (20%) but lenders still can’t lend because I have around 230k in debt from the other home.

This gives you time to plan your next move, improve your credit, build up a down payment, and Next, the FHA mortgage can be used on property when you agree to owner occupy; if you want to use as investment, then find a plex unit and occupy one unit.  1 to 4 units are still considered residential, while 5 units and up require commercial lending.All the best~

Indy is business friendly and has a AAA credit rating, lots of jobs and has had a steady 3% population growth over the past 30 years.

I attended college before joining the Air Force and have nearly $25,000 of school loan debt that has hurt my credit score substantially.