My question is should I use all the money that I can get pre-approved for or use a formula using expected cashflow along with my income to determine what my buying limit should be?

ColorsWhite is frequently the default for small spaces, but don’t limit yourself.

There are other limitations such as 20% of your taxable time (excluding capital gain).Your QBI cannot be more than 20% of your taxable income (excluding capital gain). 

Monkey power

We are on the same page.I'm limited to working with institutional investors only, as we are hitting that $10 billion threshold where I'm subject to CFPB rules and regulations. 

This was step 1: knowledge is power and reading this book is helping me move forward. 

It permits you to tailor the LLC provisions to take into account the individual tax goals of it's members within the limitations of the tax code.

If you have used up most of your credit limits, your score skews downward.

I am making two assumptions here (1 - the borrower is not bankable and 2 - they are stretching to make the payment work) which means the investor is going to want a much higher yield than 6 or 8%, and the 30 year term will limit your potential buyers.

I found a local lender who offered a pretty interesting product (at least from the standard stuff I've seen)First Time Home OwnersOnly 5% DownNO PMI3.75% InterestIncome Limits Waived for the Area we are LookingProperty we are looking at is asking $399k but we believe $350 is much more fair.