My SOP is to contact the current landlord and employer, require proof of income for the past 3 months, and use Rent Spree for background, credit, eviction, etc.

Section 8 comes with benefits like reliable government-backed income, potential tax advantages, and lower vacancy rates.

If you refinance, you can always use a DSCR loan on the next purchase if you think the refinance will impact your Debt to Income ratio.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

All this spending and lack of income for many counties is starting to shed its light now and people are going to have significant sticker shock.

In Colorado Springs, STR will certainly get you more income than a LTR but its often more time-consuming to manage as you have new people in your home every couple weeks.

That's more than half a year of income, plus you are probably paying management fees.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I thought it would be as simple as adding up all of my losses  from Schedule 1 - Additional income and adjustments to income line 5 over the past few years. 

My plan is to build passive income over the next ten years by scaling a real estate portfolio that I can manage once retired.