To minimize audit risk, it’s advisable to choose “Other interest” instead of “Mortgage interest” when reporting.Part 2: Forms 1099-INT from Investors to Private LendersForms 1099-INT Explained: Similar to the interest earned on savings accounts, Form 1099-INT outlines the interest that must be included in taxable income.

DSCR starts at 8% for borrowers with strong credit scores (800+ which I have btw) but at 8% at 30 years 75% LTV you would need to buy at 7% cap rate to just about break even.

I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

My parents put up most of the money for the down payment and they're crediting 10% of the rents as equity to me each month as payment for managing the property until we reach an equal equity position. 

I currently have about $180K of equity in the home, but would only look to set up a line of credit of ~$30-$50K.

Then find the QI that will open up an FDIC insured bank account in your name that only has your money in it. 

However, there are multiple programs that I utilize for my clients that give a savvy investor extra credit if the market rents fall below in-place rents - that extra credit comes in the form of 110% of the market rent being used for underwriting. 

Red flags to look for are brokers offering both QM and nonQM products, such as VA and FHA loans concurrent with hard money and DSCR.At the end of the day, it really boils down to if you trust the account executive/loan officer not to misrepresent the terms for the deal.

Try not to cut into your savings or your retirement accounts.