I would ultimately like to have 20 to 30 of them but of course starting small and using a TK model of sortsis my Fannie Mae 10 property limit going to hurt me - is it worth it financing homes that are on the smaller side < 200K and renting out at around 1.1%All advice and critique is appreciated and am happy to follow up with any further information that would help 

And, it's pretty boring stuff, HUD, ALTA, AIA, building regulations, Fannie Mae, FDIC, etc.When I say "reasonable price" I don't mean what is reasonable for me I mean reasonable for the young family guy with responsibilities working an hourly job just making ends meet.

Rental income addbacks are:-Mortgage Interest-Hazard Insurance premium-Depreciation (typicall, straight line method)-One-time extraordinary expenses-HOA fees99% of lenders out there follow the traditional Fannie Mae/Freddie Mac framework and this is how the underwriters treat income.

Hi guys,I'm working through a Fannie Mae loan on my first investment property and have had a weird situation come up today.

@Carrie Hallensleben Fannie Mae guidelines allow for 10 mortgages and their are plenty of lenders that will go to the Fannie Mae limit.

Sidebar: I'm not sure Fannie Mae requires this form anymore, but Freddie Mac does "If you consider rental income from the subject property in qualifying the borrower" http://www.freddiemac.com/learn/pdfs/uw/rental.pdf

I wanted to get some feedback on which loan officer is correct under the Freddie Mac/Fannie Mae standards as I want to know before I go under contract and the loan falls through.

My tenants went through basically the same hoops of a Fannie Mae 1003 loan application and made object decisions closely to loan underwriting requirements, ratios and asset evaluations that shows the ability to pay and the ability to stay out of bankruptcy while remaining employed.

Purchased home from Fannie Mae that was stickered WINTERIZED on every piece of plumbing.  

If you move it to an LLC it then belongs to a commercial entity and Fannie Mae doesn't allow that.