Live this way for 20 years, live like no other today, so someday, you can live like no other, it’s the best way to get where you want to go.The banks are interested in more than just your “ GOOD CRIDET” they want to see debt to earnings ratio, how you live your financial life, is the property you’re going to try and buy a good deal for them and you and what if any money you have to put in.Get to Know Dave Ramsey, read and listen to him, its sound advice for the young to get started in life.Hope this helpsMike 

Comparing Bank Recourse debt to Agency Non-Recourse debt, the most significant difference might be Replacement Reserves.  

I was just told that my mom's debt to ratio was too high, meaning that the current mortgage of her home plus the mortgage of this home in comparison to her income is too high.

I have the 30+% down and a credit score of 760+ with minimal debt (few hundred dollars).    

I've seen a video on youtube froom "Commercial Property Advisors" saying that it is actually better to buy a 5+ until as opposed to a 4 unit building because then the loan is commercial and the property cash flows factor into the evaluation of the property in underwriting (in addition to you still being checked out for income, assets, debt, etc.), whereas with residential, you can qualify for residential on just your income and assets alone, no evaluation of the property.  

Also, we don't know what your gross monthly expenses (including debt service, OpEx, CapEx, insurance & property management fees) would be on those properties, after pulling the equity out and/or after the refi.  

If you are going to do that just get  a 4 plex with long term low-fixed debt for 30 years with 20% down.A 5 is above getting a good loan on and too small for the better commercial loans. 

I don't like my clients to be mortgaged to the hilt and in debt up to their ears (ironic considering what I do, I know), so I always give a little talk about how *guaranteed* ROI on paying debt down early is exactly equal to the interest rate on said debt.

Hire a RMLO or Mortgage Broker to be able to look through a credit application and a mortgage applicationLook at debt to earnings ratio or DTI, look at credit, look at length of employment, look at length the residency in the area,You need to sell to the tenant buyer the neighborhood and for them to want what the house offers the family,  to be able to step into that opportunity to get out of that apartment or rental property. 

Debt for cars is bad debt.