Mortgage requirements from banks

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Hello everyone,

A business partner and I are looking at options for financing an investment property. We know the 20% down is pretty standard and great credit scores help. We can both meet those requirements. The issue we are concerned with is DTI. One bank has told us that 40% is maximum and they will not count rental income unless we have two years of tax returns to show for it. Is this standard across most banks or is this just this bank's policy?

Can anyone recommend a good bank with less strict guidelines? Credit unions and local banks maybe? We are in the northern part of VA so if anyone is local I would love to chat! We also each already have a rental property and decided we can do much better if we work together as our skill sets are different.

Thanks for any help and I would be glad to provide more information as needed.

Chris M.