Any advice on how we can increase our pre-approval amount or what steps we should be focusing on over the next year? 

It’s an easy way to pre-screen and confirm they actually qualify, which helps you avoid wasting time on people who aren’t a fit!

From a tax perspective, the IRS typically allows pre-rental work (like the hours you spent getting the property ready) to count toward material participation if it’s directly related to getting the property ready for rent.

Who is pre-approving you for an 8 unit purchase + Reno without proof of funds?

Deals that look solid on paper can fall apart fast if there’s a legal issue, tax lien, or pending foreclosure you didn’t catch.One strategy that’s been working well for me is focusing on distressed and pre-foreclosure properties.

DSCR is a great tool for the situation where conventional does not make sense or cannot be done, but it is more expensive money with additional terms and conditions (i.e. pre-payment penalties).

Did pre-approval or having broker support help speed things up?

Rentals- LTR: 12+ months- MTR: 30+ days- STR: < 30 daysRental Property Plans: BRRRR: Buy, Renovate, Rent, Refinance, RepeatHouse Hack: live in property while repairingProperty Class: A: Tenants with 680+ FICO scoresB: Tenants with 620-680 FICO scoresC: Tenants with 560-620 FICO scoresD: Tenants with < 560 FICO scoresOther: ____________Property Type:SFRSmall MFR (2-4 units)Medium MFR (5-20 units)MFR 20+ unitsFinances: Cash: $_____Mortgage Pre-Approved Amount?

@Samuel Shemtov Get a pre-approval letter from a U.S. lender showing how much you qualify for, and share with the agent. 

I have already talked to hard money lenders and got the pre approval.