- If we used just my income, we should be fine on amount we want for new property mortgage, but broker is also saying all properties counting against me because they are on our joint returns- to complicate things, I am looking to use a VA loan for our new primary residence mortgageCan anyone help?  

Someone said every mile you drive with it on counts because you are advertising.  

I've been told that as long as I have a completed HUD1 Settlement Statement that the bank will count it as a sale and not require me to qualify on two mortgages, but obviously I want to be sure before I proceed.

I was told that you could use the income from other units while living in one and it would be counted.  

At the risk of counting my chickens before they hatch, I just had an offer accepted on our second SFR yesterday.

If this works with your goals, it can be a good play.But don't count on getting anything extra for a second kitchen in an illegal duplex in a nice single family neighborhood.

A friend of mine that has a 130 unit gets about 75% to pay, 10% more after collection, and the other 15% he eats rather than evict and spend thousands per units and lost rent to get ready again.If those types of systems are present he just builds it into his offering number and counts on certain non-collectible losses. 

I count each offer/transaction as a learning experience.

In most states a degree in construction management can be used to count as some the the experience requirement for a contractors licence, but can't be used for all of it.

Of that, about 250k is in taxable accounts that we could withdraw if needed.My wife's argument is by buying another rental property, we would be dipping into the 250k and we would be overweight in real estate vs. stocks if you don't count the 401ks and IRAs.