I rent the units out totally furnished with all utilities.

I did just find a company who does both and I think it's around 20% total, but I have not had a chance to speak with them to verify. 

The main problem is PenFed allows applicants to own only three total properties (including primary) to qualify. 

So far, the problem we have is that the total loan amount will only be 35k and that's low for the lenders we have looked at so far.  

You would not be denying for any other reason than the fact that he is a total f*ck up.

I am currently looking at a duplex around the $220,000 range where my total expenses would be around $1600.

4 bdr house with 2 bath, remodeled kitchen, no major damages or repairs in FullertonSqft: 1377, 6018 lotPurchase price: 460,000Closing cost: 13800Down payment: 92,000 20% downMonthly mortgage: 1864.60Rent income: 3000Property taxes: 421.67/month Insurance: 100/month Vacancy: 100/monthCapex: 150/month Total expenses: 805Financing: 1864Income: 3000Cash flow:~330ROI:3.74So this is just me practicing for a property in Fullerton.

Below is the details of my properties:Property 1:Purchased in May 2016Original Purchase Price $63,000Remaining Mortgage: $28,000Current Market Value: $85,000LTV: (28,000/85,000)= 33%Property 2Purchased in November 2017Original Purchase Price: $100,000Remaining Mortgage: $84,000Current Market Value: $105,000 LTV: (84,000/105,000)= 80%Total Portfolio LTV= (110,000/190,000)= 58%Thanks in advance!

@Patrick Philip total forclosures 

Account Closed It totally depends on the location, class of property, when it was built and what the market will accept.Most of my stuff is class C in a smaller town so I do not over-improve but I make it nice, clean and liveable.That means new paint, vinyl plank flooring, selective cabinet upgrade or painting with new hardware (white is in these days).