Turns out, the loan officer sent the old app, that doesn't ask that question.

I will still make no exceptions for evictions on a record, no matter how other criteria works out, but a divorce, medical bills, student loans, etc., are worth questioning before rejecting.  

30 year conventional loan

@Michael Adamo- thanks - if you decide to purchase a AZ  property - make sure to get pre approved for a loan  ( if needed)  well before you begin looking for properties 

You can however use the projected short term rental income to underwrite the DSCR and approved the loans.

@Tyler Kowalczik- thanks for the post ....1) get pre approved for a nypotehtical  scenario  so that  you  can make sure you can get  financing and also  so you  can  become familar with the process  2)  you will need a  down payment of  15% or more   3) once you know what a  possible  realistic  loan payment  looks like - do your  reserach on  what  rental incomes  are  realistic  and  this should help with your  decsion making .....the prices are  high in LV ...Port angeles  or  P townsend  might be  better ......consider  Kitsap county  ( although its  been  increasing in value )

Are there any tax implications or other considerations if we use this loan for our personal home project?

Hi,i have a duplex property in south LA.purchased it for 275k now worth about 750k and I owe 525k in loan due to cashout refi that I used it for a downpayment for my other investment property.Due to this cashout I'm negative cashflow.

For example, private lenders can make owner-occupied loans all day long.

You pay a bank interest, if you can do something BETTER with the loan proceeds than letting it sit in the property as equity and can generate a return greater than the interest paid.