Although banks have similar guidelines they each lend a little different. 

It's about knowing the guidelines and seeing the forest before the trees.

I understand there’s guidelines.

Haven't been able to find any guidelines related to this.- Down the line, if we are able to convert this property to a full time vacation rental investment property, can we then buy another second home (with second home financing terms) in the same area?

I put on our guidelines that failure to provide the required information can be cause for the application to be declined....tell them that, explain what filling out every blank means, explain what the telephone number to your supervisor and landlord means....and still get junk.   

you know how prickly underwriters can be.. and with the new fannie guidelines BRRR is going to be tougher its not a slam dunker. 

@Mike S just to echo what everyone else has said:You can’t utilize projected rent income to qualify for a second home loan, but you can (under current guidelines so definitely discuss and be transparent with your lender) you ARE allowed to rent out a second home out when you aren’t using it as long as you maintain control of the property (i.e. no lease and no property management contract that takes control away from you).

I know for personal finance 6 months expenses is generally a guideline for an emergency fund, is there a similar amount or % of property value to hold as an emergency fund?

With the switch to more remote working and schooling, it seemed like a good gamble. 

Does Anyone have any general set of rules for hosting an open house? Looking to have an open house but biggest concern would be safety. Letting folks into the home without knowing who they are and no prior history wit...