Can you show proof that you already have a pre-approval letter in hand to show them?

He is their commercial lender. 5/1 ARM, 4.5% APR, 15 yr AM in my LLC.

I have even gone further to get a pre-approval from a couple of the hard money lenders so just hoping to find a good deal that make sense soon through them. 

oh i don't have a deal yet, i'm just looking for a pre approval, so i don't have to scramble for financing when i get something under contract. they're turning me down because of low AGI/DTI, instead of lending on a 1.25-1.5 DSCR asset with 9-12mo of reserves, and a 720+ credit score. also, due to differing regulations on boarder income and primary residence/"house hacking" investments, as well as first time buyers. i've got a lot of things going against me really. haha. but i'm pressing through, little by little. appreciate the concern though, and i'd love to send you the deal details once i have them, if youd be willing to lend your expertise. 

$50-70k rentals even the midwest are in my opinion too low a price to pay for an out of state investor, unless you are talking about a pre-rehab. 

Joey - thanks for the post  ..if you will need  financing - make sure you have  a pre approval  in place 

Then go bigger for a couple and after that the sky’s the limit.

I could have bought condos in the strata there at the same time for 50k each and ski in ski out at the ski area above Vernon for under 40k CDN.. 

Samantha - Not crazy math.Simply put the appraised value along with the current APR for your loan product into a mortgage calculator and see what your monthly payment is. 

This category has great options for investors, self employed, or those with DTI issues or tax write-offs road blocking them from getting a pre-approval.