I pre screen and only do background credit once I have selected them as the tenant.

In all cases I've found, the math works out that it makes more sense to invest post tax dollars in real estate rather than pre-tax dollars in the stock market (article links below).

Do you have the bank statements and expenses and rent rolls going back a few years?

Say you got pre-approved for the mortgage and you are able to take out the $140,000.

Is there any drawback to getting pre-qualified through multiple lenders? 

Now, I'm scared that I won't be able to find a property currently in this market within the 3 month timeframe that my pre-approval lasts for. 

So while yes you are technically paying the commission, but its all rolled up into that one number.

I'm learning a lot and the city has also had some cool recommendations (how to deal with heating and the concrete slab with sleepers, recommendation to get pre-engineered trusses which avoids increased structural review). 

Thinking outside the box, I thought it might be interesting to learn how I could partner with someone who has cash, come to an agreement where I find the deal, they fund the purchase, and then I use the financing that I'm already pre-approved for to put a mortgage on the property and compensate my partner in some form. 

I’ve recently got the ball rolling to try an upscale from a one bedroom co-op unit into a multi-family property.