I know this sounds like a big pain in the *** and for most people it is but the truth is if you have the tolerance for this you can make money, if you don't want to put in the extra effort and you count solely on people who know you are 2000 miles away, you are very likely to not get what you think you are paying for.You reap what you sew is the moral of the story.

The lender probably won't count any rental income, but might, since its been rented for a while.

The document flaws at GMAC were stated by a GMAC employee in a deposition as part of a lawsuit - I tend to believe they are real, since the document counts are fairly large, and the practices used to keep up with that volume will almost certainly lead to short-cuts.

I know it's in vogue to say don't count on appreciation these days.

Count on Steve to uncover the hidden links.

I have had former sellers in similiar situations get the rental income counted with 9-12 months of statements instead of 2 years.

What if you buy something subject-to and want to refinance...or are an investor that improved something 6 months ago and want to count the improvements?

With 2 most recent years experience, 680 FICO, and can count rents as income (proposed rents forpurchase – as taken from the OIS or comparable rent schedule, whichever is lower ---- or the actual rents for a refinance – as taken from the tax return). 1x30 (12 months), 0x60 (12 months), 0x90 (24 months) mortgage lates. Without landlord history. 720 FICO score, qualifying with both payments, and max debt ratio of 45%.

This contribution also counts toward an annual "required minimum distribution."

I'm closing in on ya J...you better keep your post count up ;-)