during the "boom" times but COVID has loosened everything up and now 5% can be had in Manhattan, 6%-7% in Brooklyn and even 8% in the Bronx.

That said, your lender will tell you how strong or weak you are as a guarantor.Again....prove you can handle the first property and the bank should easily loosen the purse strings and let you grow.  

Have actually loosened our requirements from what we were initially looking for. 

Long Beach recently loosened it’s STR restrictions which is the cherry on the cake.I live in Long Beach and know the South Bay well so feel free to ask questions.

The latter has been loosened a bit recently but is usually harder to correct.

The question is when you will finances loosen up again?

The only drawback is finding the small multi-family, but there is some inventory starting to loosen up.

Unsure how strict enforcement of this is, and many hypothesize this requirement will be loosened over time, but something to keep in mind.https://focus.senate.ca.gov/sb...

If you have to loosen it later due to changes in your market, then adjust it at that time.

Today we are again seeing credit requirement loosen so refinancing by homeowners who want to "free up" their equity to buy new cars and take vacations will become more common.