In addition to down payment you need reserves which is 12 times or 24 multiplied by all you debt.

Bob arranges the money for Joe, so the bank is short again even though Bob could have paid more on the debt.

Some sleep better at night with zero debt, while others love to use leverage and are willing to take on more risk.Community banks right now will go with 80% LTV.

That said, there are some things to consider....The reason the other people on this thread were talking about a lease is because of your debt to income ratio.

A tax account ensures nothing is accidentally spent elsewhere, and a marketing account makes sure lead generation is always prioritized.From a credit perspective, connecting credit cards to these accounts on autopay helps you manage spending responsibly while playing the credit game.

I get a dozen post cards a week! 

Screening tenants well and then a security deposit or credit card hold process in place will limit liability.

People responded by explaining that residential mortgage lenders are looking for US-based customers, who have their residence, income and assets in the States.How do they view foreign debt?

This new property is pumping out around a 10.5-11% cap currently.My credit score is not great as it sits, hovering around a 650 but slowly increasing as i'm paying off debt.

Well you received reply's from the top heavy hitters in the passive game here on BP.choosing wisely is key as noted.. real estate debt can be a great spot for the busy professional.