Landlord: Focus on applicant criteria, vetting potential tenants, thorough lease agreements, outline tenant expectations, perform regular walk throughs with tenants, and use web-based rent collection and maintenance requests. 

Once you know those numbers, go into a mortgage lender or a broker and make application. 

“Today’s agreement reaffirms HUD’s commitment to ensuring that housing providers meet their obligation to treat all applicants the same.”The case came to HUD’s attention when Inland Fair Housing and Mediation Board (IFHMB), a HUD Fair Housing Initiatives Program agency, filed a complaint based on results from their fair housing tests.

They will not accelerate applications for existing single-family & duplex buildings, but they will allow you to accelerate existing commercial buildings or residential of 3 or more units.

@Alvaro RodriguezUsually the lender requires an application fee and that includes the cost of the appraisal, but I have had lenders where they just want there appraisal fee covered and the rest can be done at closing.

I know that I need to have written criteria for when going through applications, but am I allowed to have different criteria for different properties?

Current rents per month: for whole park ~4KFair market rents per month: I'd guess just at > $500/unit and offload the utility costs on the renters, current paid by park ownerDown payment or equity: Expect I could come up with 30% down if neededSource of down payment funds, if applicable: own funds and borrowing from/against IRA/brokerage acctIncome Source: Salaried in telecom construction management for ~20yrsGross monthly income (optional): $5K/moMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $3KFICO: Excellent 800Credit issues: just mortgaged a rental property in Feb and cannot yet show rental income history to offset costs.

Current rents per month: for whole park ~4KFair market rents per month: I'd guess just at > $500/unit and offload the utility costs on the renters, current paid by park ownerDown payment or equity: Expect I could come up with 30% down if neededSource of down payment funds, if applicable: own funds and borrowing from/against IRA/brokerage acctIncome Source: Salaried in telecom construction management for ~20yrsGross monthly income (optional): $5K/moMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $3KFICO: Excellent 800Credit issues: just mortgaged a rental property in Feb and cannot yet show rental income history to offset costs.

I actually had a delayed financing application fall through bc I was applying for the refi in my name, but the house was purchased with funds in my partnership's bank account.Alternatively, you may be interested in another creative strategy for doing a cash out refi without waiting 6 months, described here Hope this helps!

Division of Profit (or Loss):At project end, whether from sale to a third party or resulting from a permanent ownership change between Parents and Me, the following items will be settled in the order listed below.Remaining monthly salary due to MeParent's mortgage gets paid offParents’s project costs (plus interest if applicable) get reimbursedThe first $100,000 of profit is split 30% to Me and 70% to Parents <-- (Their insistence)All remaining profit is given to Parents until they are reimbursed for their original equity, then the remaining profit is split 50/50 between Parents and Me.Questions for Discussion:What aspects of this deal do I need to reconsider or develop further?