If you know someone who is qualified (all proper documents) then you should be good.

He's also an all around real estate attorney and I believe is the guy who drafts the docs that the WI Legal Blank Co sell that many in WI use for their leases, etc so I'd sure think he's well qualified for your need and even if someone who knows pretty well what to do is say $100 cheaper, I'd pay the extra $100 for Atty Petit in a heartbeat and get papers I know darn well should cover my a** in ALL situations!

After you you get a rough idea for not only how much you are pre-qualified for, but more importantly what you feel comfortable spending you then want to get a feel for your market and the type of purchase prices you can expect for the type of properties you want to look to purchase.

It is possible that your sponsoring broker could already have an agreement with certain pm's.If an agent is the procures a qualified tenant that ultimately signs a lease, we split the tenant placement fee.  

Depending upon the volume of transactions, how long you hold them, and if you can be a landlord for a little while, you might also be able to qualify for capital gains treatment.  

I am considering changing my application acceptance policy from first come, first served, to choosing the most qualified applicant and wanted some thoughts on this.1.  

The mortgage broker put the kibosh on that, saying we needed to bring our own housing outlay (rent) down first in order to better qualify for the investment property.

Personals are much easier to qualifier for so its a great way to get your foot in the door.In your situation you could buy a great future rental, and use it now as a primary.

@Vlad-Stefan MarcuYour home will more-than-likely be considered your principal place of residence which will qualify you for the Section 121 exclusion of $250k ($500k if MFJ). 

You probably can qualify for a loan and if a lender tells you that you can’t I would keep looking.