Hours later, he calls and says it's been denied due to "Inadequate Collateral/Unacceptable property! 

They approve or deny your request, if it's market rate, you should get approved.

Primarily white collar jobs.Type: Neighborhood Retail/mom and pop cafe/coffee shopBuilding: Retail condo on  ground floor approximately 1500 square feetRenovation: Entire complex redone in 2015Parking: Street parking is limited in front as it is a bus lane, but has parking across the street and cross streets.  

With a bathroom/stand up shower, I can confidently secure a $1000 month cash flow as we have a few colleges in the area and next to a bus top which takes them to college- that's nice.   

Your previous homeowners insurance policy y is likely to deny coverage if they find out it is no longer owner occupied.  

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

You'll also have to figure out how to deal with tenants who abuse utilities (leave water running, crank the AC/heat, etc.) because the cost will be yours to pay.Check your city and county zoning for the property.

Unfortunately, during COVID a number of the cities and states where we operate have enacted well-intentioned tenant protection ordinances which in practice have been widely abused.

Even section 8 is about $2400 in Mamoraneck.I need my units to appraise for $2600 or the FHA loan will be denied based on self sufficiency.

I do not want to charge a flat rate because I feel like tenants will surely abuse the "unlimited" power usage and I will end up losing money.