They say that Husband is out of work due to Covid, but in background reports I see no employment history for him.Together they don't make enough to be qualified.

Median household income reported by census only measures wages.

Hi @Rubin Thomas, Joint Ventures are generally treated as partnerships for income tax reporting purposes. 

The property I’m looking at right now would be bought and rehabbed using HM and with current numbers I do not think the HML would be able to get paid out at the refinance.ARV: 390 rehab: estimated at 110-115k  The seller is asking for 289k but there is no way that would work using the 70% rule. market rents: 1500 each unit since we are looking to add a bedroom in each unit and there’s a bonus unit on the third floor (basically a three unit but wasn’t reported with the town) 

so, does $3150/mo or $37800/yr cover your annual expenses that you are reporting (with reporting being the key)? 

There is tons of data for crime reports, job growth, population growth, quality of schools, etc.

A normal purchase will allow you an option period to have a full inspection which includes looking behind the electrical panel , under the home, in the attic etc. from there if your inspector sees something of concern they will include that on your report and from there you can get second opinions from a plumber, electrician etc. this is always my biggest concern for first time investors who buy from wholesalers - no inspection, all cash, many times inaccurate repair and ARV figures and no one in your corner.

@William Coet, I have no idea about that, so please report back.

These loans also are non reporting

You can then, after you have a relationship, ask for CoStar reports to see rental comps and sales comps.