You need to talk to a mortgage lender in your area.

And that's what brought me to real estate investing because I believed that I can build my success, if I am willing to keep on working hard and learn about it.I do have some real estate experience as far as searching for properties, applying for mortgages, closing, and renovation, when we bought our primary home about 6 years ago.

I was able to look up the property taxes, calculate my mortgage and insurance and some of the monthly expenses.

I'm in need of some info regarding how banks or loan officers calculate one's eligibility for a loan. i want to know what the criteria are, hypothetical examples of this would be wonderful. thanks in advance.P.S. any mortgage brokers in house please feel free to email me or message me so we can connect. 

I'd like to refinance to a conventional and drop the mortgage insurance.  

That leaves 60% to cover the actual costs of mortgage, taxes, insurance....oh, and you do want to make money on it right?

I am risk averse so I hold at least 6 months worth of mortgage payment as reserve - if a tenant leaves for whatever reasons, at least I'm covered to a certain degree.

Should I get a mortgage in order to put less down/buy a larger property?

Maybe better to pay debt now and use capital later to buy assets when they are cheaper? 

Do i have to find a mortgage underwriter to do so and how do I find one?