Small / community banks and credit unions generally have looser underwriting guidelines.

Otherwise, I'd just brush up on the REC laws and guidelines and foolish things like how many square feet in an acre, feet in a mile, etc...thing that no client will ever ask you but they put on the exams anyways.

That type of "investing" is actually called speculating, and is not much different than gambling.

hey @Kevin Phu yeah you should deff set up some guidelines for yourself....each market is different also it depends on what deal you are looking for....rental....fixer...buy and hold??

Better to just rip the band aid off than string you along.VA Loan guidelines say two things:GI Bill income cannot be used as qualifying income.Rental income cannot be used as qualifying income until you have two years of landlord or property management experience. 

Elite Rentals Chicago mismanaged tenants, withheld information, and most importantly, has still not paid me any of the rent or fees collected from tenants in my property.Elite has very clear written guidelines about screening tenants, but did not follow them.

@Mike Dymski already pointed out the Freddie and Fannie Small Loan Program guidelines for a Borrower's net worth and liquidity.

they charge up front.. but they do fund.... biggest complaint I have heard is that the deals many times do not meet their underwriting guidelines and by the time you have a deal that sticks yoiu could be out  4 to 5k.. along with there was another thread on how they changed the rehab draw process.. which with a contractor that can carry your job that works.. but if they can't it looks like the borrower will have to front the rehab and then get paid back on the drawand since the people attracted to this program generally have no cash to put into a deal.. this can be an issue in many markets.. 

New construction of all types all but stopped in the crash and is just now starting to get back on track - getting up to speed may still be a couple years out.Home prices and rents are both feeling the pressure of supply-and-demand right now.Tough lending guidelines are about the only thing keeping a lid on home prices right now.

Banks have a tendency have additional guidelines over the Fannie Freddie guidelines which prohibits given you the necessary income for the subject property.