All banks I have spoke with say the same thing -“we are going to look at everything “Your w2 income your businesses your property your debt your cash reserves your savings your retirement funds .. everything and calculate from there .

The only annoying thing is that I collect additional information that cozy doesn't (references, bank info, etc.) which means I have a paper application + cozy.FWIW, I've allowed small dogs and cats in my unit but say they're negotiable...I don't want to disqualify an otherwise excellent tenant because they have an animal. 

The bank basically uses the equity in one as collateral on the new purchase.

Lending is back in style and not only banks, but private money lenders are marketing their wares with a vengeance.

Unfortunately we have our own expenses such as bank payments, taxes, insurance and maintenance that require us to rent the apartment at the set price.

I have my eyes set on a property (Bank Owned) that would only accept cash offers.

Try to keep searching for local banks or credit unions (portfolio lenders).  

Also, finding a bank to do 20% down on a house that cheap will be tough. 25-30% down will be more common.

If so, begin working with local banks to determine who best to refi- cash out on your current property to fund the down payment and rehab of your next property.

You can come across several value add deals that you can buy with the cash up front, perform a necessary remodel (I say necessary meaning you do not have to go above and beyond to get a full 75%-80% bank loan), occupy with a tenant and cash out refinance.