I’m not very familiar with the 203k rehab, but will look into it.The terms for the HM loan are: 6-month loan, 10% APR, and 5 percentage points with no pre-payment penalty. 

Based upon actual monthly sales recently, see below, I can only imagine a great Apr'17, and onward for spring and summer.

An initial search online showed that CO is sometimes considered a "destination" location and nurses are willing to take a pay cut to travel here, especially in the winter months for ski season.

One is a rental in CT and the other was a pre-con in Florida that didn't sell so it is also a rental property.

@Semilore Lawal- thanks ...assuming you have a  decent  down payment for the  rental - I  would assume the  new property rental income  could  cover ( or  come close to covering ) the  new  property mortgage  payment ....if this is the case - your  debt/ income ratio  shouldnt  increase too much ....if the  realistic rental income is much lower than what the mtg payment will be - then this  wont  be applicable  .....get in toouch with a CN lender and get a pre approval formally  started to know for sure - good luck

I performed a pre-inspection and wrote an offer with no inspection contingency!

I performed a pre-inspection and wrote an offer with no inspection contingency!

Have a buyer reconsidering a pre negotiated deal on a four plex. 15%ish down.

Conveniently situated less than 10 minutes from the resort for great skiing and mountain biking, and less than 10 minutes from Eagle Nest Lake for fantastic fishing and boating.

As others are alluding to POF is actual funds in an account in your name, anything else is a pre-qual or pre-approval.