The problem is that my partner is currently low on cash and can't afford to provide funds for the downpayment, pay the mortgage during the period we have the property listed for sale, or fund any other large expenses that might be involved.

I have one supervisor who is responsible for managing my duties at both companies.So here is my concern - I am concerned that underwriting will consider my second paycheck as a second job, and therefore not include the income b/c I do not have a 1 or 2 year history of that additional income.The house I want to purchase is 500K and I have a 15% down payment saved and I can afford it with my new salary of both companies, but I will not meet the DTI criteria if the additional compensation from promotion is not counted.

Look at the pest report.All section 1 items must be fixed.Section 2 items may need to be fixed.Anything the appraiser notes that is a health/safety/habitability issue will need to be fixed.

Changes as far as the tax issues **I'm 25 and pretty much if I was trying to rent a apt , it would not be affordable in any way shape or form ...

My interest in real estate is to help rebuild neighborhood home in the local community and help provide affordable housing for low income family.

Hey Michael,There are still some bread and butter areas in Cali where you can actually pull out some affordable properties like in Bakersfield and Fresno.  

Regardless, either is affordable considering you can make $600-$2000 on your very 1st $100,000 transaction.  

Therefore, Certificate of OccupancyCertificate of AcceptanceYou should bee consuming much time in preparing your rentals for showingCompletely  move in ready before advertising.Having great curb appeal to the drive by lookersLearning how to place an ad and what words you can say and what ones you can't.You should be consuming Learning forms you need to use and what they are for and where to get them,Notice to Quit (Non Payment of Rent)Summons and ComplaintJudgmentsEscrow FormsWrit of RestitutionNotice of Termination of TenancyNotice to Quit due to Health HazardsYou need to know your states laws in when you can send these forms.You should spend much time in developing a Great Lease AgreementApplication FormsAnd know what words you can say and not say in them as well. 

That's the affordability.

Since the last oil crisis, Houston has done an outstanding job of diversifying...With high-tech, healthcare, and alternative energies booming, petroleum just doesn't have the effect on us that it did in the past...it's now a smaller piece of the pie that is Houston.Many locals remember the hard times in the '80s, and are fearful that they will return, but when you look at all that the area has to offer (booming industries, affordable housing, great schools, investment opportunities, friendly people, decent winters, etc.) you realize that Houston still has a lot going for it.And even if things were to cool off a bit, that's beneficial to investors, as it means less home ownership and more renters!