I'm gleaning info from all over the place, but maybe this post can help clear up a few things.We want to convert our garage to a guest house, extra room, whatever you want to call it.

My question to others on this site is this:  Both properties have nearly doubled in price and are starting to decline a little though not much. 

Our focus is partnering with investors, and that's what we're personally doing in Waco. 

We have about 80-90k in equity in our residence and another 60k in IRA's/Roth.

Property has no "on-site" employees with exception of cleaning staff.

Theyve done a great job with our units in the past but currently we are unable to rent almost any 1 bedroom units.

I went looking through my loan docs and the lenders site and actually can’t find anything regarding ratios.

:-) Outside the US I use the Corelogic calculator because our local insurance companies provide a no-frill version for free. 

Was able to use our existing property as leverage on the new property thru the same bank.  

Our last three sales this month were for: $700k, $840k & $1.045M. - Proximity: The majority of our clientele are from out of the area or State usually originating from the Bay Area, So Cal, Seattle area and Idaho.