Hi Kevin, Providing essentially the same information that you would when you purchased your 1st property would suffice + a couple documents on your current residence (W2, ID, 1 month of paystubs, 2 months bank statements, Homeowner's Insurance, Recent Mortgage Statement). 

Maybe just referencing one-another would suffice for lenders/appraisers? 

If your parents have a proof of funds document they can provide or the agent can reference a local lender they are in discussions with, that usually suffices. 

At the end of the day, I don't think anyone here is saying lose your soul and kick the ladies out to the curb but I think a letter explaining your plan would definitely suffice and you would be pleasantly surprised that they might be able to pay the current rates. 

A lender I’ve worked with here just requires a signed lease for any units rented, no requirement on length of time lived there (in fact they don’t even have to have moved in yet, with them a signed lease at closing will suffice), and will count your income plus 75% of any rents collected.

I have some in Columbus, but I’m not sure if that would suffice for the Cleveland area.

Anything that requires you to verify income, since 95% of loans have this requirement, will not suffice for you since you are under that one-year mark.

I agree with others here that using Excel for one property will suffice.

A simple memo in plain language and signed by both parties will suffice. 

I assume a 30 or 60 day notice should suffice?