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Question about qualifying income on a Schedule C

Say I sold a house that pulled $48K in rent a year and bought another six months later that also pulled $48K. A loan officer told me that neither would be qualifying income if it was filed on Schedule E. The first house is no longer owned, and the second would not have been a source of income for two years.

Two questions: Is this a legitimate statement, and would refiling everything as a property management company with a Schedule C affect anything if it is?

submitted by /u/TheProdigalBootycall
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source https://www.reddit.com/r/RealEstate/comments/k30zxg/question_about_qualifying_income_on_a_schedule_c/
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