W2 income, rental income, small 1099 income. 

Also - presuming you paid more for the property than was owed on the mortgage due to competition on the auction (several presumptions there) - the previous owners are entitled to those excess funds from the court - which gives them a resource to be able to afford our rental rates. 

I typically do B/C class rentals and flips so I may be in a different genre than you.  

The listing broker is going to try and sell you on paying a price that makes sense given the projected or proforma rental income, a dynamic that is the equivalent of how the listing agent on a SFR might try to sell you on paying a price that bakes in future/anticipated appreciation, or "look at this home's potential!" 

I have experience as an SFR investor (rentals), as a realtor as well as corporate experience in mortgage lending and servicing practices from a large bank - all of which I will leverage to grow my MLO career.

Lower down payment and keep the current as a rental or sell the current property and larger down payment on the new one?

The condo was used for several years as a short term rental.  

I have a rental applicant who has tax ID but no SSN.

I’m currently renovating my house and turning it into my first rental.

My Father has been renting us a house in OBX every summer since I was a kid and were both pretty affluent now and I'm floating the idea of us going in together on an Oceanfront somewhere in OBX that we can use a few weeks a year and have it pay for itself via rentals the rest of the year.