As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

The main downside is being dependent on the HOA—issues like poor management, rising fees, or unexpected assessments can hurt your investment.

I've been self-employed for only 6 months, and loans are proving difficult to come by despite my great credit (not to brag, I'm moreso frustrated and seeking help).

A business line of credit through your LLC protects personal assets, builds business credit, and may allow interest deductions, but it might be harder to secure for a new LLC.

hi all i am a new landlord and got my first rental property. tenants moved in in September and October. the first month was fine but when December hit it got extremely cold and the heating is electric. due to poor insulation in the home that we did not know about the heat has to be turned very high up to keep the home warm, however since everything is electric it is causing the electric bill to be $800. the utilities are the tenants responsibility. however because of this one of the tenants has been extremely non compliant with paying rent.

Most non-FHA loans will require at least 15% down but you'll have to have amazing credit.

It will likely still continue being a difficulty.You mentioned bills, are they credit card bills?

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I could be misunderstanding how this deal was structured, but wouldn't the seller who is on the underlying mortgage have an incentive not to let it go into foreclosure since their credit is at stake?

I require a high credit score 680+ and two prior landlord references.