How do you buy your second house?

[Dillon Goral]

So I've purchased my house a few years ago, and have had my friends living with me and paying rent while I fix the house up. I've gotten almost completely to where I wanted it, but now I'm ready to start looking to make a move to my first real investment. I want to be able to keep the house and rent it out while I buy another house to live in and fix up, and continue over and over. On my normal work income, how do I get approved for a new loan, find renters for my first house while I'm purchasing my second, and make that transition to then being a first time official landlord?

[Dillon Goral]

@Bryan Noth

Thanks! I'm trying to build equity and learn from all of you guys that have experience and put it into play as much as possible. The one thing I guess that may cause a problem is not having official written leases right now. My main reason simply being I don't know how to go about drafting any of that info, and making the transition to becoming more "official" with all of this. Do you know of any resources I can read that would give me a sort of How-to on how to make that transition whether it's finding a lawyer or drafting leases myself or whatever steps are best to ensure the best chance of success? Thanks for your response!