Investment Info:Single-family residence buy & hold investment.

This is a business-purpose-only loan for real estate investors that allows you to use the projected rental income to qualify.

I had one tenant who wanted to buy a house, so he wrote a check for $3,200 to clear my collection off his credit report and qualify him for the loan.

I'll take a quality resident a few bucks under top dollar any day of the week.Happy Investing !

@Erin Spradlin you actually run into problems with this in some places because they won't let out of state residents manage their own properties.

How will a firetruck and ambulance get to those residents without a road?

I have a non-qualified use question that's very specific:We relocated our family to the Midwest and we rented out our primary residence in Orange County on Feb 1, 2021.

Your incomes will be combined when you qualify for the loan, and both your names will be on the deed as “tenants in common.”

What are the options for dividing the proceeds on the sale of a home where 2 owners are “joint tenants” on title (not tenants in common), and it was the primary residence for only one of them?

If you want to retire, you need a paid off house, $500k+ in liquid assets (usually a retirement account or after tax brokerage), and more than 1 source of income (RE, retirement account, social security for those of qualifying age, part time gig, etc.).