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.

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.

@Darrell HayesNice tip"Also find the local section 8 office in area and post flyer."

At each bank I obtained an UNSECURED LINE OF CREDIT.

There are some other tips that I can add, but I'd like to keep this short and touch on the ones that we see missed most often.  

But I don't have the money or the credit to get into multi families.