Granted it would slightly affect cash flow but I'd still be well within my criteria.Anyway....Any recommendations of lenders who will refi non-owner occupied SFR's at 85% LTV?

@Douglas T.The one thing you want to make sure is that your condo association needs to be 50% or more owner occupied or your condo will be considered non warranable.This means that it will not be eligible for fannie or freddie financing.  

It is the fine details that are often different (eg, there is no such thing as a forclosure in Ontario, there is no "courthouse steps" auction, there is no "absentee owner list" and the rules regarding landlord/tenant are wildly anti-landlord here).

If that is the case, talk to the current owner about working with him to get leases in place before you close, which should close the gap on your debt to income ratio.

I'm a home owner, and pay my mortgage on the 1st of each month.

The owner is not a professional landlord and the property is mismanaged and getting destroyed by the tenant...

Then look in the county assessors website to find the owners. it should give their name and mailing address.

The other one that fell through had a judgement filed against the homeowner right after we did the quit claim with the mortgagor and were about to close and redeem the property from the person that bought it at the sheriff sale.That judgement terminated the mortgagor's (and therefore our) ability to redeem that property.The response rate on our marketing campaigns has been extremely low; south of 1%, in fact.Our campaigns include door knocking, leaving notes on doors, as well as mailing the property and new addresses of the owners (when applicable).  

This longer life would negate some of the tax benefits that are afforded to owners of residential rental properties (due to the shorter depreciable life on those types of properties), and would most likely cause your rental income to be taxable more often then not, right?

If so, you need to have an agent's license or be part owner?