What can you do to stack the best outcome in your favor?

Usually the absolute min is $50k and anything under $100k gets much less favorable terms.

Many lenders do like to see signed lease agreements and ideally, two years of tax returns showing the rental income reported for the income to count, so keep this in mind as you rent out your property.Down payment and DTI - I think your ability to get the second home will largely depend on having enough down payment and having a favorable DTI ratio.

#1 it’s a one bedroom eliminates a huge renter pool#2 people are moving out of the condensed areas like downtowns to more surburby areas#3 the numbers seem not favorable, a house in north Phoenix might cost you 300k, but they are getting upwards of $2k a month in rents with no HOA.

Appraised price would not make this a favorable deal.

Appraised price/us paying off the solar would not make this a favorable deal.

I've been keeping my eye on muskegon because the inventory is much more favorable than Grand Rapids, and I know they are working on improving the city. let me know if you want to talk and good luck.

That way you can continue to get favorable refinancing terms while building the 1099 paper trail.Good luck!

Think you mean how "little" you can pay.If you have no experience, do yourself a BIG favor and get a broker that does motels. 

Would it be a good idea to look at those factors at a different angle using something like creative financing to turn the numbers in your favor?