The 80/20 rule applies in the miltiary also, except it is more like 95/5. 5 % of my sailors I wouldn't let come near my family or properties.

Several months of applying the @Marcia Maynard school of being firm fair and swift brought a turnaround but the essential message is that the signs were there.

If most or all of the following apply, you might want to seriously consider financing that next big depreciating purchase:You have a high tolerance for risk and are able to take on significant leverage. 

But declining an applicant who applied for your rental and you received a credit report stating they had bad credit, is based on facts that you actually paid money to receive about this tenant. 

from ones that don't seem to apply to your chosen niche.

for owner occupied conforming loans it seems the rate difference between 5/1 and 30 yr fixed is ~.75% -1% ( I am talking about no-point no fee)I was thinking the same differential will apply for non-owner occupied.

for owner occupied conforming loans it seems the rate difference between 5/1 and 30 yr fixed is ~.75% -1% ( I am talking about no-point no fee)I was thinking the same differential will apply for non-owner occupied.

Publication 463 clearly states that the 50% limit would apply in the first three cases."

Good luck and if you apply yourself you'll love having your license!

Also keep in mind that rents are rising pretty quickly in the right neighborhoods so that 5% cap will be higher in the future.I've only got limited experience and got very lucky with my first MF purchase thus far (800K for a 4 unit in a very hot neighborhood with a current rentroll of ~$7K that is still about 10% below market) but I think the same advice applies here that would to most places - keep digging and get creative.