Portfolio lenders typically follow the same (75%-80%) rule and consider the additional income from your properties and perhaps relax on the debt to income ratio and as long as the deal makes sense and generates positive cash flow.  

My preference is the latter and I want to rent it and add it to our portfolio.   

Hey @Corie Carpentier,Consider how to get the seller to throw in additional concessions that give you more value than they lose.  

Annual numbers are:Built in 1984 - Seems to be a B class complexPotential rental income $900K-$1M gross6% vacancy ($60K), $20K addition income from vending/laundry - no other amenities, $65K taxes, 5% ($50K) Capex, $28K Insurance, $16K contract services, $90K payroll/staffing, $150K repairs/maint, $6k utilities (tenants pay their own), $10K accounting/legal, $5k advertising/marketing, $100K (10%) PM (is that redundant with staffing?)

Ok guys I need some insight before I go insane ..On my personal  residence I recently did a construction loan for a large addition and had a lot of work done .the contractor has been paid through the bank on five different draws according to what he’s done he’s a small outfit so we’ve been very lenient and the inspector from the bank seem to be as well because he ( contractor) would not always complete the work in the draw outline .

You'll have to go to some smaller local carpet/flooring stores, and discuss what's immediately available and can they get it done immediately.You may have to offer a bonus for timely completion, OR you may offer to put up the new tenants a night at a local, clean motel.  

The key additional question is moving forward would they insure the property if the answer is no at purchase 

I would like to buy a single family and rent out the additional rooms. 

No additional cost/premium to tenant.

Bingo, bonus Cash!