First rental property.
I am looking into buying my first rental property in Florida. I want to invest there because of the current prices. My idea is to have a property management team run it for me, and when the market goes back up sell it. My debt to income ratio is 21% right now. My question is how hard would it be for me to get a second mortgage for about 70,000? I gross 75,000 a year. That would put my debt to income ratio somewhere between 32 and 35%. I also have great credit. Would a second mortgage be possible?