I want to move my checking account to a smaller community bank with fewer branches.

Not aware of a reliable source for this info - and please don't think US Census Bureau is the answer.3) How do you account for "property condition"?

Below are the key data points:- Gross Rental Income: $118K (I received the rent roll list from agent)- Effective Gross Income: $112K (I'm assuming a 5% vacancy factor)- NOI: $56K (I'm assuming 50% Operating Expenses - inclusive of 10% property mgmt costs, repairs & maintenance and CapEx reserves)- Recommended PP: $623K (Market CAP rate is at ~8%; I used 9% because I want the Cash on Cash return to be 10%+ with a 30% DP at 7.2% interest rate and 30 yrs term)- The asking price is $1.25M.

You would have to contact the current housing committee and fill out a rent adjustment form, if approved the portion between the housing committee and the tenant depends on what the tenants income and ability to pay and all of that will be listed on the confirmation

P.S: All the applicants have good credit scores, 3x income, and no criminal or eviction history.

In addition rental income covers all expenses including vacancy, maintenance/cap ex, pm, Pitt, etc.  

@David Flores I think they make the owner qualify for the fha loan by themself unless there is proven rental income from a second unit with a signed lease in place.

Income greater than 3x rent, 620+ credit score, etc. etc. 

So I had been looking at a DSCR loan on other properties but they wanted 1 year of income before they loan…My thought was perhaps I can lease back out to the current owners, then refinance to get my cash out.

Personally, even with interest rate uncertainty and election year hysteria, I am building a stronger and stronger conviction around the fact that I need to get a little more aggressive in acquiring more income properties.