Keep in mind that if you plan to buy another house you won't be able to include the rental income for qualification until you've had the rental income on two tax returns.

If you are an employer and an applicant applies for a position with you and hands you their resume done via an Excel spreadsheet, verses someone who hands you a professional resume done through Microsoft Word or some Resume software program, which one would you think would be the best suited for the job, based on both applicants having the same qualifications? 

This, however, is only the beginning of our turn-key service.Finding the Very Best TenantsPhase 4EquityBuild tenants go through two rigorous pre-qualification processes.

I would ask, exactly what was the backgrond and qualifications of their PM, and what was the primary source of their income...sales or PM?

Easier qualification for military discount.

This way they do the origination and pre-qualification and you can learn the process.

If you are planning to refi at some point why not talk to the lender first to see what are their qualifications for single family and multifamily.

I'm glad doctors and other medical providers don't get their degrees and qualifications by simply reading.The next best thing would be to find a general contractor or someone else with that experience and see if he or she can work with you to come up with a good system.

There are many ways to make this kind of purchase without using your own capital...seller financing, private money and angels are all great options.2) Type of loan and terms is contingent on lending entity criteria, deal parameters, buyer qualifications, collateral value, et al.  

@Kerry Hennessy the 203k has the same qualifications as FHA.