Assuming 50% OE, your NOI is $20,500 which with the debt service listed, you have a dscr of only 1.14 (Bank says, DENIED!)

In my opinion, there's no excuse for staying in his property and not paying the rent other than being denied safe/peacable and or healthy/sanitary habitation.

This also helps in the incident you have to deny an applicant and are accused of discriminating in any way.

Some housing authorities cap rental rates paid however if you can achieve your desired market rate (you can deny a s8 tenant if the housing authority won’t pay your requested rental rate) then why not.

My new nickname is WeDirect as everything I want to do keeps getting denied and they won't send my checks.  

The result HELOC WINS.1- HELOC has zero closing cost.conventional/other loans you pay closing cost.2- HELOC has 2 ways of doing the appraisal at no cost and faster.Conventional/other loans 1 way and sometimes at your own cost.3-HELOC close faster 3-4 weeks.Conventional/other loans need at least a month.4-HELOC offer a fair 4%-5% on investment properties.Conventional/other loans offer about the same if you pay points on some.5-HELOC has no seasonal 6-12 month period.Conventional/other loan have the seasonal rule.6-HELOC lets you refinance to increase your line of credit if you notice your home is worth more than it did when you first applied at no cost.Conventional/other loan is a period you must wait to refinance and most have a early payoff % or fee and if you get denied, you are stuck with paying the fees it took to process your application and such.7-HELOC There's no mortgage loan limit of 4 or 10, you could have HELOC on all your properties.Conventional/other loans there is a 10 loan conventional limit then you would have to settle for a portfolio loan which the APR is much higher.HELOC has only 1 down fall, the property must be free and clear to maximize the loan, so if you have a HML, it won't work and most HELOC want first lien.PLEASE NOTE-not all conventional/other loans are what I had mention.

If no permit is pulled, and if something were to happen down that required an insurance claim, the insurance company will be quick to deny claims and you can get stuck on your own.

We had in place a financial contingency and Both lenders denied the funding for that property.

The minute you deny a tenant, and they claim that you denied them because of their service animal, you now have to show your screening criteria to the judge and it has to give all tenants equal treatment, or it will he considered discriminatory.

Deny them and move on.Your applicants should provide "verifiable" proof of income.