My husband and I currently own a single family home that we occupy and a duplex that is rented. In about a year we will be finished with college and moving. We would like to build a rental business in Johnson County, Kansas. We should have about $50,000 from the sale of our current homes. Basically, we want to buy as many properties as we can with this money. What is the best way to do this? What types of loans should we be looking for? How can we qualify for this money? We expect our income to be at least $70,000 per year without any rental income. Thank you.

Assuming that the “occupancy requirement” has been met on the single family home, I do not see why not keep the two properties that you have now and rent them. You can buy a property to where you are moving using residential financing, but if you try to buy something as a rental then you need higher down payments.

Sure, you might be moving too far away so that is something to think about. However, the kind of loan that is used for income producing property requires at least 20% down payment

I assume that some of those $50,000 are earmarked for another house so how much will be left is important.