I did not plan on selling property on a owner finance without getting the qualification paperwork so this should work out just fine.

So, by having clear qualification rules up front it saves me a lot of headaches.  

There are threads about "finding private money" here.Keep in mind that after you gain experience as a landlord the rental income will be applied to your income qualifications, usually 75% of rents.

What are your basic qualifications for approving a borrower?

In this market a "really good deal" doesn't last long, so we were trying to meet with lenders in advance to get a pre-qualification / pre-approval. 

Hi all, hoping to get more insights on this to help out a friend. So my friend helped somebody get an apartment by putting himself on the lease (super duper mistake!!), and that person who actualy lived there stopped ...

Most of our income is from rental properties, and we are specifically looking for ways we can leverage that as well as subject property projected rental income in the qualification process.

Speak with a lender to get a better guess and to find their actual qualifications.

and...any rehab money or previous closing costs would not be allowed in the rate and term because they are over and above the original purchase price.So our product, that doesn't require title seasoning or tax returns for qualification, that would go off the current appraised value and cap you at 70% for sfr or 2-4 units, would probably work if the value has increased substantially because of the money you've put into the rehab (you may put some cash in your pocket because you can do cash out and not worry about conventional's 6 month rule).Just clarifying,Stephanie

No tax returns are required during qualification, either.