do i pay off most debt under the 30% and use my savings... then re apply?  

The debt is a big hurdle.  

Bank statements:  While you might be the one paying the debt every month, the bank will still be sending the original owner the statements. 

Benefits to invest in his business for some growth capital. new equipment purchase, and consolidation/restructuring of existing debt.I dont have any financial experience in regards to a business, and  just based on his explanation, something doesn't make sense with his income-debt(i dont know what exactly which is why i am here) My question is : " where is a good simple resource i can use to help me make sense of his books?"

The excess money goes to my current revolving credit card debt and truck payment with my 2 other loans and I pay off and that frees up 620 extra bucks a month I take care of the place for a year on my current job with my wife making 3300a month and then get this house leased out or rented then that people help pay my mortgage and costs then I get into a better mobile home paying about 300 a month and saving towards the next property soon after that year and making the next down deposit with my own cash and owing no one except the next person to fund my next apt complex!

I just went through this on an 8 unit one I've got north of fort worth and they will look at "Debt Service Coverage Ratio"--most banks want you to have some cash in the bank (in case of emergencies) plus a DSCR of 1.25 or better, and often they want to see you still have some money invested in the property (from fixes, make readies or whatever)1.25 is NOI/loan repayment.

So that is how we got rolling in the early years.I do suggest that method, as we benefit from debt pay down, appreciation, inflation and the renovations that we do.  

I can only imagine investors with 10+ properties are closing in on a 7 figure liability - Is the rental income enough to justify that magnitude of debtOn top of that, I will want to get a personal home soon as well (currently house hacking a duplex), I wouldn't want real estate investment debt to be a burden on me missing out on a dream homeThen of course I'm cash stricken after putting down the 20%, so it will take some time before my current property generates enough to where I'm ready to afford another down payment (also it should be noted I'm not thrilled about the idea of raising capital through others)How do you manage your debt as you scale your portfolio?  

Hi all,I am new to BP and just starting to research how to start becoming a buy and hold investor under extremely limiting circumstances and was hoping the BP community could shed some light on the best financing strategy to use for my first few properties.Current Financial SituationA little background on my current situation: I am 28yrs old working in television in NY ( making roughly 55-60k a year- yes it is brutal) I just bought my first primary home 2 years ago in Williamsburg, BK to lock in how much I’m paying for housing year over year in a place where incomes don’t increase as fast as rental prices (2 bd for 340k (this is an HDFC which is how I got a home for this price in an area where the median price is 1.5 million) ) so obviously my DTI is extremely high at almost 60% with no other debts besides my primary home (I also have a roommate who pays me $900 a month for her room which helps with about half my total monthly housing costs) (had a great mortgage broker that really helped me wiggle in to my first home)I now have about 75-80k in equity in the home and access to a family trust with a similar amount of money in it and was looking for the best way to turn buying an initial first property all cash into the ability to buy more properties( out of state of course- looking at different areas in the country from PA to TX to TN to FL).

We're quite fortunate in that we have zero debt, I work in IT and the wife works in Education.