Hopefully you have something saved up or accessible credit elsewhere for unexpected things that come up.

(I think some of this came from another BP user several years ago, but I don't recall as I started putting this together a long time ago and only recently came back to it, so if this looks familiar let me know and I'll give you credit).  

This is the first Fannie Mae financing.The RatiosI am wanting to build a fourplex and then refinance to own as an investor and even own one as owner occupied.If I understand it correctly - it works like this....1) New fourplex monthly income and expenses projected by appraiser Rents of $1500 each unit Taxes at $1060.00 Insurance at $120.002) My gross monyhly before tax income $8500Less my debts (credit cards, loans, cars etc) for first level.

Debt first (assuming this is high interest or credit card debt) is the best first step as it is a high yield return on your money that is basically guaranteed after that you should decide how you would like to invest and learn to analyze properties, you also want to make sure you have financing in place before you start looking seriously just in case you want to put in an offer on something.

Sounds like I need to stop using my local credit union as a one-stop shop. 

Do you just show up, say you are the lender, credit bid, and they do not make you pay?

My and husband and I have good credit each but I really want to avoid using personal credit to take out loans.

For now your pay check is the easiest money you will ever make, it will provide savings as well as the ability to get credit/financing.

I ask him to bring his references, credit rpt ,license meet in public place   The legit ones are open give you their resume.  

The SallyMay interest is running at 9-13% depending on one's credit.