i.e. my W2 income plus the gain of the assets/buildings does not equal the "maximum taxable income" qualification of the rate chart. 

Offer this deal:they advertise. they showyou screenonly go through if the new tenant meets all of your qualifications and passes the screening processthen $x fee from the old tenantfull security deposit transfers to the new tenant. old tenant can collect from new tenant.

Would love tips on the practical first steps and recommendations on realtors, and where to start the pre qualification process and get started in the world of REI. 

So when another lender reviews your qualifications you will carry a higher debt loan. 

But of course there are some steps I need to take before lending in second position, and it's always good to know the borrower's true qualification.  

@Brady Ascheman No, that would mean I'd be going through the bank's qualification process which is the same as getting my own mortgage.

That gesture almost always relaxed the seller and the apprehension largely disappeared.great information, thanks a lot.I didn't understand the life insurance part, how that work and comforts the seller. i can buy the property cash or finance it too, no issue about the loan qualification, but just don't think at todays hyped up prices 7% interest rate can work,  

What are your basic qualifications for approving a borrower?

In this market a "really good deal" doesn't last long, so we were trying to meet with lenders in advance to get a pre-qualification / pre-approval. 

Fannie Mae isn't going to count POTENTIAL rental income for qualification purposes.