I don't agree with the approach taken, attempting to apply secondary market, a point in time qualification underwriting approach to an area that is better served underwriting future abilities, but doing that is much more difficult in a fair, prudent manner.

If I were to have a SFR, I suppose my qualifications would need to be modified as the market I were attracting would be different.

Also in historic neighborhoods there can be old buildings that don't meet the age qualification of an A or B property but can be rehabbed into a very nice, desirable property:Class A Properties: • Typically less than 10 years old (No deferred maintenance)• These apartment communities have a definite market presence.• Typically occupied by white collar workers who are renters by choice.• Residents pay above average rents. • High levels of unit features and amenities such as garages, in-unit washer/dryers, pools, spas, exercise gyms, the latest technology, etc• May have less cash flow than B or C properties but greater appreciation potential.Class B Properties: • Typically 10-20 years old (Little or no deferred maintenance)• Occupied by both white and blue collar workers • 80% to 120% of an areas median income (the middle class apartment dweller)• Usually renters by necessity, not by choice (can’t buy for one reason or another)• Tend not to move as often as other tenants.• Generally command average rental rates • Property finishes are fair to good and systems are adequate• Includes former Class A apartments that are 10+ years old• Complexes are well maintained• Properties will have decent cash flow and decent appreciation potential.Class C Properties: • Built within the last 21-30 years (varying degrees of deferred maintenance).• Typically occupied by blue collar workers and even some Section 8 tenants• Usually have below market rental rates• The projects have fewer amenities• Renters by necessity. • Properties will have decent cash flow but appreciation has to be created with physical improvements (remodeling, aka rehabbing or repositioning)."

Send all your prospects to them to get qualifed before you spend your time and gas.Another easy way to make some "pocket change" is work leases.

Jumps to 290/yr if rents are 1200 to 1600.They have some other qualifications for the tenant but they seem pretty reasonable.

(sounds like the start of a bad joke).I am an Enrolled Agent, I represent people before the IRS and this is the preferred designation by the IRS for anyone who represents taxpayers before the IRS.It has been referenced several times here to be sure about your CPA's qualifications.

VERY IMPORTANT: What are the qualifications necessary to be deemed a R/E Pro?

Qualification is based on the borrower's income, assets, and credit profile, and requires a personal guarantee of repayment.

I did get some double takes while explaining my experience for qualifications mentioning having been a bank examiner for FDIC and was accepted pretty quickly by the court.

Putting all your properties under one note is like putting all your eggs in one basket, if it's 15 year fixed that doesn't sound right as a portfolioed loan, so, is the rate fixed with future qualifications along the way?