I just bought my first rental property in September, and when looking to get a pre-approval on my next property, was met with the news that  I could only invest in something up to $45K or a unit that already had tenants due to their debt to income rules (I also have a mortgage on my primary residence they are including in the equation). 

What other options do I have to finance my next deal? I've heard about trying to get an investor but don't know how that's structured. And I'd prefer not to take out a HELOC on my primary residence. Any thoughts? Would really appreciate any help because now that I've started, I don't want to stop!

Originally posted by @Brittney Knies :

I just bought my first rental property in September, and when looking to get a pre-approval on my next property, was met with the news that  I could only invest in something up to $45K or a unit that already had tenants due to their debt to income rules (I also have a mortgage on my primary residence they are including in the equation). 

What other options do I have to finance my next deal? I've heard about trying to get an investor but don't know how that's structured. And I'd prefer not to take out a HELOC on my primary residence. Any thoughts? Would really appreciate any help because now that I've started, I don't want to stop!

Assuming the thing you purchased last Sept is cashflowing, what you were told is all wrong. Go find an investor-friendly local lender. 

@Brittney Knies   I'll second the previous opinion.  This certainly sounds like a bank overlay.  Try smaller to mid-sized banks for better success at loans for investors.  The standard rule is that a conventional loan can count rental income on a purchase even if the property is vacant.  If the bank does not follow that rule then go find a bank that does.

Shop around to different banks. Listen to what they are saying then question them. Some loan officers are not experienced. Educate them, if they don't meet your needs move on and talk to someone else. It will help educate yourself in the process.