I am going to talk to the property manager tonight (as well as discuss the shoddy nature of the repair - just a small piece of wood attached that didn't even cover half of the broken window on the door leaving the house exposed, and had been that way for a week and a half when I saw it).

My guess is that the underwriter is going to look for the following:- Does the new property fit with what is going on with your life (meaning family - bigger home, kids leaving- smaller home, etc)?

At it looks like, it doesn't make a lot of sense to me.if we leave aside the equity split and the money you are bringing to the deal, I wonder where is the value creation? 

The only thing I've suggested so far is to leave the realtors out of the equation to at least save that money.  

If it’s already a rental property they may leave off some expenses or do some other magic to make the numbers look better than they really are.  

Lately I have had people show me photocopies of pay stubs, which in my opinion could easily be faked.In reference to the original post, recently I did have a school principal call and leave a VM message, asking me to call back and verify a resident.

Maybe I'll just leave it.

@Marie-therese Tai If they tenants were to leave the property, how quick could you put in a new tenant?

But even if the rents don't fully cover your mortgage but leave you with a much lower payment than what you alone would pay for rent or a mortgage then you are still better off for the amount you will be saving.

They have more skin in the game then you do.Make sure you get clear title.