BRRRR - the refi and repeat is stumping me

[Steve Holly]

Hi all, trying to wrap my mind around BRRRR. It all seems straightforward enough - Buy, Rehab, Rent, Refi, Repeat... the part I'm having a hard time with is the refi and repeat. Since banks use debt-to-income to qualify/approve you for a loan, how do you get around the "debt" part, since income isn't yet established? Perhaps I'm overthinking this, but I would be a real bummer to close on a deal, and not be able to refi and repeat. Thanks all!