As a start my real estate journey the first course of action I need to take is getting Pre-approved for a loan.

Also, he already got an offer for $1.1M and the arv for the area is about $1.2M so there's not alot of room to force appreciation, the only benefit is that I will be able to get a property without being approved for a mortgage and hopefully no money down.

I know underwriters want my debt-to-income ratio around 43% maximum (including the new mortgage) in order to approve a new mortgage.From what I've read, it appears underwriters will consider a certain amount of rental income in my favor, but only 75% of rent minus expenses. 

Get a Pre-approval so you know your Max loan amounts and options!

I am personally seeking out LTRs as property values are skyrocketing with rents.On the bright side, the city just approved rental ADUs for full-time residents to combat the affordable housing crisis here.Good luck on your search.

I have 90k+ in equity in the home and have been approved for a 70k HELOC to use on the next deal!

I receive monthly payments from a personal injury settlement, but because this does not count as income, I don’t believe I can get approved for a regular home loan program even though I have an excellent credit score and some cash for a down payment.

It seems like the only way for me to be pre approved for a property in these areas is to have a co-signer on my loan due to how expensive they are and my current income.

They will use your income & other factors to approve you for that.Best of kuckN

Recently my wife and I were looking at listings online and saw a mobile home for sale.