I only received verbal information on annual income and credit score of the tenant.

Rates vary for commercial loans, your amortization might also be different - it depends on the bank though, but the appraisal and value of the building depends mostly on the operating income rather than comps.

@Ammon JensenFor this purpose I do not believe you can write this off, add on that you are paying ordinary income on the 10-12% which let’s say is 20% and after servicing you may actually be losing money every month.

Yes there are options upto 80% cashout with no seasoning as long as it is rented and cash flowing even or better . no income no doc .

What bank in CT will lend me this no income verification Also my credit score is 750 and I only have 1 year of credit history. 

We were, but he missed 2 things, my wife’s income and the taxes I paid.

I love income properties so my first inclination is to keep it.

It is interesting to see in the Smokies 8 to 12 bedroom homes are not getting that much more income than 4 to 5 bedroom BUT has 4 to 5 bedroom been overbuilt as they represent majority of the building permits?

My current W-2 income will probably not be enough to qualify for the loan, but my income from my current property, which has existed for far less than the two years lenders will look for, gives me more than enough money to be able to handle the payments on such a loan, if I could qualify. 

I agree with Jordan, your agent is the best in coming up with comps and ARV.