Mortgage for owner operator for house??

Every bank and credit union I've dealt with wants both P&L's and taxes, and taxes are weighted far more heavily. Most of the O/O's aren't going to have audited P&l's, which makes taxes the more creditable document.

 

Me and my wife are buying a house I tried doing it myself but I paid myself 40k a year 740 credit score and she makes 60k a year 640 credit score, I couldn't use my VA even if you are married the credit score that counts is yours not hers, so we went FHA loan so we settle for a 210k house 2 car garage solar panels all over and backyard 7700 down close to the highways in crappy North Jersey. Thursday we got the inspection. I rather shop for clothes for my wife than shop for houses that bs has me losing sleep and getting gray hair.

 

OK, o have to ask being in Jersey too
How much are property taxes?

 

8,234 a year I'm going to get that reduce to the mid 6k once closing BTW the house is in linden, same property in Roselle or Roselle park pays 11k plus in taxes.

 

Yikes, and I'm crying about 4k a year that I pay

 

I rent a room in nutley. Everyone tells me 10 to 14k. Why live there? Smh

 

New Jersey it's a expensive state and the closer you get to NYC the higher the price one of my houses is in the Hood newark(this is my second house I'm running away from the Hood) is renting for 1800 3 bedrooms no parking and no utilities and people are paying it with no problems, a studio in a good area can cost up to 1500 a month... Why rent when you can buy if you have the credit and some savings.

 

I'm thinking/ looking at getting land out of state with a farm house and some tillable to rent out. I have a love/ hate relationship with NYC n Jersey. NJ isn't the best for flats and I'm waisting money.

 

What state?