That being said its not impossible for it to not work out and for many investors living in places like San Francisco or LA it only really makes sense for them to invest long-distance. 

Did you hire out the work out to contractors?

I’m looking at a particular property and also in general just in case if that doesn’t work out.

I would fire your lender for giving you a pre-qual letter to make offers without fully vetting you as a qualified buyer.

If I were to get pre-approved for a loan, I understand that I would need to show proof of employment and I was wondering if the best option to fulfill this requirement would be to have someone co-sign the loan.

Hi @Daniel Kevin Lara, I'm going to assume from your question that none of your utilities are individually metered (a bummer, since that simplifies this scenario a LOT).I would work out the historic averages for the utilities and split the average among my tenants, either:- Split it evenly not factoring in my usage (i.e. they pay the full share) OR- Split it evenly between ALL residents and add a surcharge to give some buffer or padding. 

Use that information to come up with a solution, work out some kind of deal.

It seemed to work out well for him.

I’m a MLO that lends in Indiana so feel free to reach out to get started with the pre-approval process or to run some preliminary numbers. 

Get the business pre-approved for a loan and take it to market with a business broker.