[trgn]

Banks are that stupid. For loans, you demonstrate expected rental income, based on rents of comps. We were in that exact situation. Just provided estimates based on a listing search. Question of vacancy rates or whatever did not come up.

[lotsofpulp]

Did you have a stipulation of maintaining a certain debt service coverage ratio, otherwise the lender can consider you to have defaulted?

[trgn]

No. This was multifamily, and we occupied one unit. Wrt default, not sure wrt all the details with property liens, but isn't that only when you don't make your monthly payment, regardless of income?