They qualify you based on how much money the rental property pays you (rental income).If it's your primary home, then either pay off some low-balance credit cards/car loans/other loans to lower your monthly debt--or explore strategies to increase your income (feel free to message me for more info on this).

Then once you win the bid, you begin the underwriting process with the bank and go through their process.

well as long as you dont have affordability issues in the future like the Bay Area  this will be a nice win for the area.  

When sued, the person may be able to get everything in the basket if they win.

Within FHA loans, those MIP payments are essentially permanent until the loan is refinance (which depending rates could be a wild card).2) In FHA, you also have the additional fees (UFMIP) which is 1.75% of purchase that gets lumped into your loan.

Win-win all around. 

Its a win-win.  

(I also only have 1 credit card with $500 credit limit.

They used credit cards  (which I do not recommend) or any other means of financing to get that first deal. 

Investment Info:

Mobile home buy & hold investment.

Purchase price: $34,000

Cash invested: $2,000

I attended college in a small town and found a niche that I could take advantage of. They have mo...