For now, my immediate goal is to pay off all of my credit card debt (should be accomplished by February 1.), and continue to educate myself on NOI, Cap rate, cash-on -cash return etc.BP community, I am open-minded, willing to take initiative, always willing to be taught something new, but also ready to share any experience or knowledge I have that can help someone else. 

The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

Hi Kristi,VA loans do have flexible debt to income ratio requirements, unlike every other loan.

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.  

Love getting the person that has zero debt to start the game.

They're the ones working with those agencies on a regular basis and have the best referrals.As far as recovering the debt, try leveling with the tenant as much as possible so they grasp the seriousness of being sent to collections.

I just want to get financable this year - pay off debt, save some $. 

Her mother is willing to (co-sign) and has excellent credit and debt to income ratio that will more than allow but I’m not sure the best way to structure this for the house to still be in our name?  

The Heloc can also pose as a debt obstacle since its an open end mortgage a.k.a credit card.a mortgage is also set up over 30 years so it offers a lower rate and payment. 

My sacrifice… no haircuts and no fast food. 1 job full time, 1 full time side hustle. 0 debt at the time other than student loans.