Speed bump buying a 2nd property
I recently inquired about buying a 2nd property to relocate to. I purchased a townhome 2.5 yrs ago and would like to now buy a single family (eventually multiple properties). The Broker informed me I'd have to show records of renting out my current place for ATLEAST 12 MONTHS on a schedule E before I could purchase another or I'd have to account for 2 home mortgage payments in my monthly income. Is there another way?? or should I try another Broker? It seems odd that I'd have to move out of my own home, get an apartment and rent my house for a year just to buy another?!?!
FYI- I live in los angeles, CA if that makes any difference.