I am about to lose my W2 income and my wife and I are trying to buy our second investment property.

Your gross is currently $5940/month, so NOI would be $3564 a month on actuals.  20% down at 3.95% for 20 years (it won't qualify for longer-term) is $5551/month so you'd be losing about 2k per month. 

If you paid someone to handle everything for you, then you lose out on 20% of the profit for the PM but its completely passive.Hope this helps you out.

High debt, corruption, and is losing population.

If there's no convincing you to remain a landlord and shift your sights to a turnkey provider like REI Nation, the next best thing is to invest in an index fund like VTSAX.

You can sell on your own and there's probably an 80% chance you'll make it through without anyone dying or losing their life savings.

Normally you lose the deposit and that’s about it…At the same time, I think taking action is a good thing.

So, you have nothing to lose if you lose the appeal.Do you have to use a FHA loan?

I couldnt count "future income" so they think I was losing about $2000 monthly when in fact I would be making at least an extra $2500 with the new place.My buyers broker suggested a mortgagor that has many loan products including a 20% down nonconforming mortgage.

Or plow through and suck it up and buy it I’ve put down 1500$ earnest money down and would lose it if I backed out,It is my first investment property.