Elaborating more, I was a banker at quicken loans for a short time and a investor now for 5 years.

I was talking to a banker in MS I was renting a short term rental in Madison MS  and could not fathom all these mid 30s folks with these mcmansions and expensive cars boats etc. 

It wouldn't make sense if I paid it back in a lump sum and then had to borrow from a banker and pay him principal and interest.  

I am a NMLS mortgage banker which means I lend my own money..

I went to my bank yesterday to hash out the details of my most recent brrrr deal, (which went great) and my banker suggested a guidance line of credit when I ask what options they had to allow me to move faster in my acquisitions.

The idiot bankers are the ones that got us in this mess and now they are killing the small business economy because they are trying to design the risk out of the system.

Talk to a banker, tell him what the price of the house is, and he will provide you with the closing cost percentage.

This saves the banker/ underwriter from having to do all this work themselves.My preference - don't bring pictures unless the properties are stellar.I also really like to see a portfolio rentroll/spreadsheet showing the free cash and DCR for each property either under current terms or the proposed loan.I have one of these templates if you want to PM/Email me for itLastly,  Remember that the banker has goals to put on loans... so he/she wants to do the deal also if you can make them comfortable.  

Bankers will have the exact numbers, but the point is 740+ gives you the best rate.Like @Bryan Hancock says, anything above a certain number just gives you a wow factor, not more money in.

My banker told me that 75k$ a year was the cutoff.