So I'm trying to get qualified for a mortgage but the main source of income is our short term rental property that we have only had since March but we have made a lot of money on it..hence the $$ for another property!

Long story short,  here is the deal:-He will give me essentially an interest free line of credit.  

My experience:  (1) The life expectancy of carpet in a rent house could be a short as 6 months or 1 year, (2) in an attempt to harden and tenant proof my rent houses, I use a lot of vinyl and wood laminate plank, (3) Vinyl or wood plank lasts much, much longer than carpet and (4) the prices quoted to you for vinyl or wood planking in the Houston area seems ridiculously high for a standard size (square foot) duplex.

There are tons of posts and articles topics on this, but long story short the Midwest is your friend.

@Wayne Brooks  I don't know about your short sales.. but I know when my wife did a few and one specific I remember was a dentist who wanted to be a flipper  and was upside down about 100k.. the bank made him sign a prom note to release him.. so even though my wife closed the short sale the doc still owed 100k over time. 

So just keep it short and vague. 

Short Term rentals are definitely a different element compared to long-term (family) rentals. 

I have been looking for a SFU for 6 months have put multiple offers in and even had a short sale go side ways on me and I have been in at least 60 properties by now.

Look up what it costs to maintain a llc annually in your state.Long story short unless you’re a multimillionaire you probably don’t need it.Now if you own 15-20 properties then sure get one.

Any members manage short term rentals in kissimmee or know of any affordable managers?