Your FICO can be raised simply by adjusting your balances to around 30-40%.

However, after considering business expenses (which I try obv put as much as possible), SS Tax, and a standard deduction, it brings my adjusted gross income down by quite a bit where it would be hard to qualify for a mortgage of 300K-500K.

It is a gamble but adjust your price and it can be a winner.

@Kevin S.Thanks for the quick response, I know it's a bad excuse but mainly because we didn't think to do this in advance and the seller is very hands off, for these reasons I don't feel confident the seller would comply.We are now late in the game, we have adjusted the price due to findings, and signed a new contract twice, and the seller basically doesn't do anything with the property and just wants to sell right away. 

I’m looking into ways to refinance an adjustable loan on my florida rental property.

@Aaron Taylor I have a sprayer and an adjustable roller.

I have a three properties on 5 or 7 year ARMs that will adjust in 2022-2024.

I adjusted from 330K to 300k, here are the new numbers.Offer price: 200kDown payment: 20KRehab: 30kTotal cash in: 50kARV: 300kRent: 1800NOI: 1320Pretax Cash Flow: 620Net cash flow: 330Cap rate: 5.25%COC Return: 16%

Time for value adds, rent adjustments, changing property management etc.

@Mike Nedved If you are looking to multi family that's good because it doesn't have the same issues as single family homes do when a market adjustment is negative like in 2008.