I am now embroiled in a situation at my Florida condo where I have been fined tens of thousands of dollars for violation of a new rule.

Most of the alternative lenders that would do the loan with no income verification would say no because of the rural nature of Atlantic, Iowa (6700 people and 50 miles or so from Omaha and 75 from Des Moines).

If at that point you cant debt ratio at 50% or less of your gross income, then you wont be able to do a Fannie Mae or Freddie Mac type loan.

Hi Jim,Thanks for your reply. 50/50 on the profits.

Buy and holds typically is 1% rule. 

My wife and I make 50 offers to find a deal that works for us. 

My thought process tells me that I'll need to make 50% more than my salary to maintain the same net income level.

Just as you’re expected to provide the tenant with the services you agreed to, you also owe it to them to enforce the rules as well.

Yet same rules applied.

I think we could get 40-50 units on 5 acres.