It's not about credit or collateral...it's about "capacity", meaning cash flow.

Other than that, unless you are doing a cross collateral hard money loan, most lender's won't let you do no money down in this market. 

I was going to HELOC my property but I heard a lender talk at a networking event and he can use the equity of your house as collateral for your next purchase at a lower interest rate.

If you're doing hard money most of our investors do as follows:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

For other lenders, it’s treated more like an unsecured personal loan with no collateral.

If you buy another asset around the same price or any other more expensive residential asset, you can cross-collateralize them and then the DSCR min. loan amount wouldn't apply.

First thing is I do not order title until the seller sends me the soft collateral file to review - sometimes it has a lost note or some other deficiency that kills the deal right there, so why spend money.

If some guy worth $20 million pays $10 million for an apartment building that should only be worth $5 million that stinks for him, but it won't have the collateral damage that occurred when you had 20 people buying $500K houses(worth only $250K) that they shouldn't have been(questionable income and/or credit) with borrowed money.

Here is how most will work:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Make sure they know they have virtually zero collateral if you stop paying, rent stops coming or values fall.