Sometimes, different lenders have different approaches to rental income calculations!

It's probably not going to end well for that landlord.We actually had this happen to us twice last year (at the same time, in 2 different units)!

My experience is that the major platforms want two things1- sponsors with a verifiable track record of success in the same property type2- sponsors capital investment in the projectSponsors utilizing these platforms have a large "gap" to make up - that being the difference between the amount of capital raised and how much of that capital goes into the actual asset, vs how much goes to fees, costs, etc. 

I could come up with a down payment for an investment property in a different state easier than my home state at prices are pretty high in the 300-400 k just for townhomes.

If we're talking about some Section 8 houses in Cleveland or Detroit, sure, I am with ya, I live it every day, but what we're talking about right now is a different world.

It basically said, unless you are living in Wyoming do not use a Wyoming LLC set up.It seems the more research I do the more different answers I see.Going a little crazy over here,Rhonda

This is extremely situational, and it depends on many different variables.

Prices will certainly vary between different tax firms.

you can point to your policy (that you provided to them 2-5 different times) and the timestamp on the applications received showing they weren't first in line. 

I am looking at different loan options but to break even (not having to put any money of my own in the house after the initial down payment) the current down payment required is that much.