Try reaching out to guaranteed rate. 

the very reason why there's fixed loan in USA becaue the gov. mandated private lenders to be baggage holder of people's debt LOL they can do that because there's fanny mae so basically all real estate in USA is guaranteed and owned by government LOL

I'm in my 70s living on social security income plus the small property payments I'm getting on the house.

The losses will stay with the property and not move over to your personal income side.

I felt like I had a decent January but then added charges from my rental company ate up all the income, so I guess I'm trying to do my due diligence now.

, do you want income 4x monthly rent, instead of more typical 3x?

I've been reading about the DSCR loan that doesn't require income proof, but I've heard some people say you need to have a primary house in order to be qualified.

Here's a breakdown:Taxable Income Calculation:The portion of your rental income that surpasses the combined sum of depreciation and deductions contributes to your taxable income.Tax on Excess Rental Income:The excess rental income is subject to your regular income tax rates.

@Rose Ganoryou're not missing anything.  3-5 years gets you started.  10-20 years starts to get you a real portfolio that can start replacing W2 income.

I've recently changed careers (01/2017) and am self employed as a RE Agent so I don't have a steady income to pay it down!