I own 2 rental properties, the first one is paid in cash and the second one i have a mortgage on it which i pay 464 in total including tax and insurance, trying to see how much i would qualify using only my rental income while i look for a job once moving there in ilhaving a hard time qualify for a loan since they cant use my job income that i have here in cali, been told that I need to move there first and work at least 1 month and then apply or I need a job offer letter. 

So instead of paying the bank for a home equity line of credit on my first home and paying them interest, I was able to use a personal loan to myself via my employer 403b and pay myself back with interest. 

He is a mentor of mine as well, and is not so interested in making money but rather he told me that he likes to see 7% in his passively invested accounts, so I offered and he accepted that I would pay him 8% APY On the principal that I borrowed. 

Goal is to pay $3k net against the mortgage after collecting rent.

We just need a little bit of cashflow each month to make it work and we are wondering if anyone else pays themselves to GC their own deals. 

Enrolling was quick and much more affordable than what were paying locally.

I pay a significant income tax each year.  

If you have to pay property tax and insurance they are expenses.

The tenant may not pay their last months rent knowing its not worth your effort to evict with them already leaving.

I am hopeful I could under bid and get it at a good deal.I would like to put an offer in, but I don't have enough cash to pay the full amount at auction.