Actually Don I'm a HML and at least by us yes experience counts.

You're already almost at 3 months, so you might be okay depending on the bank.After you establish rental income, you may be able to increase your debt to income ratio by counting the rental income as income.

We will not know that until the Dept of VA interprets the new law and promulgates guidelines/regulations.Your or my interpretation don't count for squat. :) Legislators pass laws, bureaucrats and political appointees interpret them and post regs.

I count our sailboat as insurance too ;) And we're still buying rentals when we can find decent cash-flowing properties.

Maybe you can get the price down or raise rents, but I wouldn't necessarily count on that.

The rent is higher, but the banks or financers wont really count that as income like they would in an apartment building when computing the value of the park.

Not great.I do think that it sounds like your prospective property is a de-facto BRRRR situation -- definitely count on having to rehab units to get that $1000 a month rent. 

Som bullet-points below:Acquisition Price: $19,750,000Sale Price: $28,700,00Unit Count: 164Hold Period: 22 monthsStarting Revenue: $121,000Ending Revenue: $179,000Renovations Completed: 80 units + Office, Gym, Pool, Playground, Bark ParkReturn to Partners: 1.5x; 25% IRRThere was clearly more value-add left in the deal, but we'd hit our hurdles and thought it'd be better to move the equity into a property with more meat on the bone.

@Aaron Starr They should count the rents from the other units towards your DTI to increase your budget.

I couldn't understand why I couldn't count 25K as an expense.