Rental income derived from the subject property is acceptable on a two- to four-unit principal residence in which the borrower occupies one of the units, or a one- to four-unit investment property.” … “If the transaction is a refinance, rental income may be used when reported on the borrower’s individual tax returns (Schedule E).”"

I also own property myself as an investor and I am a principal broker who is a specialist in the space.Good luck.

Following that, our variable rate is Prime + 1.5% and if we want to fix the draw, would then be +.75% for a 20 year term (principal + interest payments). 

I guess this is like a balloon loan, where I only pay interest monthly and pay the entire principal at the end.Not surprisingly, the underwriter is asking all kinds of questions about the source of this money.

The bank's bid is equal to the outstanding principal balance due on the loan, plus legal and late fees.

These requirements shall apply to all VRBOs, regardless ofwhether they qualify as a principal land use or an accessory land use of thelot.C.

For me, I was able to justify the purchase knowing that my principal pay-down alone once I have tenants in the property would be $1,500+/month.

Which means your cash out is the difference of that minus your current principal. 

If you're putting $22,000 into the deal, think about your target return on that money.Calculating returns on rentals gets a bit abstract when you consider appreciation, principal pay down, and tax benefits.

Without knowing your particular circumstance, I think that when you factor in the total addition a San Antonio or Austin property could have on your net worth (when factoring in rental income, long term appreciation, principal pay-down, and tax advantages), it will still be a strong long-term investment.