I estimate as long as I have an occupancy rate of around 35-40%, I should at lease meet the same returns as the long term tenant.

You may have something written in the loan documents about the minimum ratio (ie. debt service coverage ratio, times interest earned, etc) that you need to meet in order to comply with their terms, so make sure you have the line items in your financial reports needed to calculate them.

Thank you for your time and hopefully I'll meet some fellow real estate investors.    

PS: If there is ANYONE in the area that would like to meet up and bounce ideas or talk business and strategies coffee will be provided!

Anyone want to meet up and talk Real Estate and Drink Beers? 

All day long.... you do not need an RMLO since you do not meet the # of financed loans per rolling calendar year but it is better to have them determine the ability to repay anyway.

Let me know if you’d like to meet up.

Pick the right one that will meet your needs and you won't out grow.  

I drew the plans myself and no one questioned them.

If it looks good, I arrange to meet with them the following day for a contract to hold and then I call the prior landlord and employers, and then finally run the background check.