The buyer either has or has not waived the appraisal gap contingency either choosing to proceed to closing or cancelling the deal.

@Michael Storch When I started out I choose the live-in-flip strategy.

Once you do that, you will qualify for the next purchase (if you so choose to do 20% down) AND as long as your combined DTI does not exceed guideline thresholds. 

If you choose to allow the pet, get an addendum to your existing lease explaining the terms and additional pet rent. 

No excuses, no sad songs!

This takes a little more work, but it's the most fair and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

@Bob Stevens how do you choose a good one?

@Carlos Martinez- 1) if you have  no property yet and  are trying to get pre approved - and  trying to decide on a lender to use for this - you DO NOT  need to have the  credit pulled  yet  2) contact whatever lenders  you want on the same day and  provide the same  criteria  ( price / loan amt / credit score/ loan program ) and  ask  for   quotes  from them   and  any other  questions you have  3)   if any are not willing or able to  provide quotes - take them off your list  4) make a  decsion on one lender from the feedback  received and proceed with the one  lender for the  formal  pre approval and  have them pull the  formal  tro merge  credit report  and provide them with all your data ( paystubs / bank statements  / w2s  etc ....)   5) once pre approved -  begin to aggresively  house  hunt  6) when a  property is  found and you get into contract - you can  cost compare the lender  you are  pre approved with  with any  other lender and make final decision to proceed with rate lock with the lender you choose 

The reason I am choosing to move is that I would then split the large lot into two and build a duplex.

The existing 2 bed is an established Airbnb that averages $2000 a month in revenue when we choose to operate it, as a long term lease we could get $1200 for it, and 3 bed apartments in our area average $1500.