Hopefully things go smoothly, and I promise the more effort you put into clear and concise communication in the beginning, the less chance tenant will get upset as a result of unexpected outcomes (like starting an eviction process, if only because you have to protect yourself).Source - years working in real estate.

They are basically the same type of loan, the stated income loan will require a 700 fico score, source and seasoning of closing funds,  25% down.

I just off my second call with WCAP Financial Services.Long story short, the salesman become combative when I questioned their sources of funding.

All those information is available for free by the way, you just have to find them from different sources and piece them together yourself.

I consider all the sources and will tailor my strategy to maximize them all while hedging my risks ... profits all spend the same.

If you are willing to risk your primary residence anyway, that would be a good source of capital for a new property.The more important question though, is why would you want to pay off the loan on your investment property?

In my opinion, it would make sense to first line up a financing source and obtain either a pre-approval, or proof of funds (if establishing a line of credit).

Since the source of your frustration is having to move $$ each month why not just move a month or two mortgage payment into the account to cover it?

I recently purchased a 4 bdrm/3bath home in the Mandarin/Jacksonville area in hopes of ultimately renting it out to pay the mortgage and also as a secondary source of income.

Allow efficient activity average of 5 mins a property (including sourcing data).