Originally Posted by smslavin
Thanks for all the input. I just talked to the bank and this isn't going to work for us as we don't have 2 years of previous rental income on our taxes. To get the new loan, my income would have to be enough to cover both mortgages. The rental income is not counted. It would've been nice to have something to build a little nest egg but it was a long shot anyway. On to the next idea...
TBH, might of been a blessing in disguise. Sometimes being a Landlord is a lot like having a second job