Using projected rent to qualify for additional mortgages

[Ian Stack]

hey everyone,

So I have a question about using projected rent to purchase rental properties moving forward. Once I file my taxes in a few weeks I will have 2 years of rental income on tax returns which I believe is the minimum amount needed to qualify for this. I own a mix of duplexes and sf homes that total 13 doors and my gross rent minus PITI is roughly 20k in 2019. I have talked to a couple mortgage brokers and all they say is that they need to show positive cash flow and you will be qualified for future mortgages based on this in conjunction with other income I claim. My understanding of the projected rent rule is they generally get a fair market rent assessment and will use 75% of that minus PITI and whatever else is left over would be used against my debt to income........this makes sense. In my market here in metro Detroit a property that rents for $1000 only costs around 70k so PITI would always (or has been the case with every property I have purchased so far) be below $750 a month. In my mind that would make each additional mortgage a wash as far as debt to income goes. Am I missing something here? I have tried to explain this point to the mortgage guys but they say i still need to show enough profit on my schedule e to be able to utilize the 75% rule. Thanks for any response