But also with low debt or free and clear property that they can easily access any time in the future with a cash out refinance.

Yeah, no pre-approval for us as well.

Many of the horror stories I have heard and witnessed in real estate came from the notion that funding real estate with personal debt or credit cards is a good idea. 

Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...

If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.

Q2 is most important: If the mortgaage is upside down, it would have to be an approved short sale and that could take a very long time to rectify.

Hey Stefano Vrolijk,Speak with a local mortgage broker and get pre-approved for a loan. 

I've had qualified renters move into a rental, add their bum friends or family members, and then disappear, leaving me with bad renters who weren't approved and aren't on the lease.The best practice is to screen every adult, approve them, and add them to the lease. 

Quote from @Miguel Garcia: If I look into investing out of state should I look to get pre approved by a lender in that area or would a lender in my area be fine?

A Non-Admitted carrier does not submit to the state for approval.