He has signed the lease and has initiated ACH payment for first month rent and security deposit.

Blue Spot Home Loans - They said they'd consider, “future rental income” if you secure a lease agreement AND security deposit for rental of your existing condo prior to final loan approval for the condo you will be purchasing. 

A Note doesn’t recorded, an executed Mortgage document gets recorded….otherwise the lender has no security/collateral. 

@Brendan Winans was relentless and matched my persistence, and I could not have connected with a better local agent that understood investors looking for the deal. 1 tenant got evicted during escrow, so in the 2 weeks following closing I was able to get a signed lease and received security deposit and rent for market rate.

The numbers just haven’t looked good enough (or about even) for the risk and extra work.I've told my kids that, IMHO, the easiest surefire way to financial security is to acquire 1 SFR per year financed with a 15 year mortgage.

I get much more cash flow when I rent by the room than by the whole house, and when something breaks (normally) it comes out of the security deposit and that helps me fix up the house to make it nicer for the next tenants.

Purchase price: $417,092 Cash invested: $14,600 Oct. 2021 Update #2: A tenant has been secured for room 2, this tenant is also a medium term traveling professional.

Purchase price: $417,092 Cash invested: $14,600 Oct. 2021 Update #2: A tenant has been secured for room 2, this tenant is also a medium term traveling professional.

Purchase price: $417,092 Cash invested: $14,600 Oct. 2021 Update #2: A tenant has been secured for room 2.

Are these valid reasons that would allow me to secure another FHA-type loan?