Do we have options besides lowering the price?  

Hi guys,I have a question about financing...Just considering options... say your wife has a W2 income from her job and you have a W2 income from your own S-Corp(and your business has been around for at least 10 years but with fluctuating W2 income) and then your wife considers taking a break from her W2 income to recover thoroughly from her illness... outside of the W2 income we do have $30k-$40k cashflow from existing rentals.How hard would it be for you to get conventional financing with this scenario (losing a more consistent W2 income - even though her W2 is lower than yours) to finance our SFHs purchases?

 $1900 or $2000 /month would be much more likely  based on other rentals in the neighborhood.Option 1 seems like the lower risk option and the way we are leaning if we keep the property.  

Rents tend to be lower there than say Dyer or Schererville, but the costs of homes these tend to be a little lower.Once other issue is your farm area?

It depends on how far away you are from having the money for a down payment, you might try peer to peer lending like Lending Club or even something like Realty Shares where you have less control over the real estate but a lower barrier to entry.  

Think the great crash was generally an over extension of credit, combined with extending credit to lower qualified buyers.  

I have seen from numerous transactions we have done in the past, that some management companies will stick it to California and New York investors with their rates by charging "California" type prices whereas a Midwest investor will be paying a lot lower. 

I was considering turnkey properties because they're lower maintenance on the landlord's part, as I'd live in another state and have a prop mgmt company handle the prop.

Sometime you have lower loan eligibility may be that lender is not lending on that loan amount.  

I think it depends on the person's level of risk and time commitment.