At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

Even if California will not relent on adjusting emission control standards, and the more than 1,000 supplemental workers at the Stellantis Toledo Jeep plant who are expected to rise to full-time permanent status are laid off, on balance, local incomes are rising.For the vast majority of individuals, a home is the largest single investment of a lifetime.

They usually pull your credit but lend based on the income potential of the property. 

Im new to the RE game too. is your mortgage over 25% of your take home pay not counting the rental income?

Plan was a long term hold as a short term rental.Step 2 - the plan to fund this project was through the sale of another property and monthly income/savings.

I am not even going to ask you whether you were listed as additional insured under the contractors insurance policy.

Any info would be great I have been told that the max household income with new rentals is 105k however I see online that it is 193k.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Right now, I'm mostly a stay at home dad, but my dream is to start looking into that more seriously once my young kids are all school age in about 3 years, something that I can do to earn my family some additional income while maintaining flexibility to take care of the kids outside of school.

We live off her income so I can focus on building my sales pipeline and saving capital to buy our first rental property.