I also, in this being my first deal, need to know what paper work and other things I do need.

I’ve also used local lenders and it’s been great.They are both going to require the same financial information from you, same documentation and paperwork, and take about the same amount of time.So go with whoever will give you the best terms and, if you’ll be continuing to invest, whom you feel you can go back to over and over again.

With your written permission, your California loan officer should be more than happy to send paperwork to the loan officer of your choosing in Florida, Ohio, etc.

Commercial/Portfolio (essentially bank specific money) loans may have a 20% down minimum. 

If not they can tell you the demand and waiting list they currently have.Second you need to make sure the business entity and property level entities are set up correctly so you will need to hire an attorney to do the paperwork for you.

I only mention this because essentially an applicant could have a decent score and not be able to afford your place.

There is a chance you do not possess paperwork from that long ago, in which case hopefully the former employer still exists and has records, you can also request tax returns transcripts from the IRS website or by filling out paperwork and mailing it in.Interestingly, banks don't do comprehensive criminal background checks (just for financial crimes specifically, though I've never personally worked on a loan where that came up, guess I'm not on the Wolf of Wall Street's speed dial).

After that you can convert it to a rental without requesting anyone's approval or doing any mortgage paperwork.

Essentially every setback is a mistake prevented fro the future endeavors.

Such a great idea that just by offering 5% of your units as furnished units you can essentially "erase" your physical vacancy by doubling the income of the furnished units@joseph cornwell Very Good question, Joe!