So what one bank might do, another might do something totally different.My guess is that any drop in value would have to be fairly significant for a lender to reduce your credit limit, but I have yet to see a lender actually put a number on it. 

The lender I'm currently using (local credit union) will allow bank statements showing proof of income from the property.

I do not currently own any rental properties, and I have a single mortgage now for my own house.Anyone care to comment about my chances of these mortgages going through before I even waste my time at a bank and take a hit on my credit score for a mortgage inquiry?

Could you get approved for a conventional commercial loan for a small apt property if you only had roughly 20k on your tax returns but have an excellent credit score, $0 debt, real estate owned free and clear, and cash reserves ?

Is having good credit important in investing or can you get by with ok credit?

We are looking to do a flip somewhere close to home (Orange county/LA) and we have great credit.

They were definitely tired old units that I have improved the value of by remodeling and upgrading. 

My strategy is to secure a line of credit on the equity in my current home and use that to buy and hold a rental property under my name before transferring it to an LLC.

While nothing is perfect, our models have undergone 34 years of improvement and refinement, so we’re pretty confident that they’re reliable.So yes, Excel is the essential ingredient, but I would submit that there is indeed a difference between a basic Excel spreadsheet and an Excel-based program like ours.

At each bank I obtained an UNSECURED LINE OF CREDIT.