A cash-out refinance can reduce your credit utilization and improve your credit score.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Do not renew their lease, and if they dont pay, serve them notice...There might be no reason for the resistance besides being incredibly difficult people who will take all your energy from you. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Taking the small steps throughout the years has compounded to this incredible opportunity. 

Low FICO scores, Income stability issues, rugged rental pasts???

Quote from @Pat Aboukhaled: Hey Lance, your property sounds like an incredible opportunity.. 20 acres with a lake and pool?

I live in Miami, FL and don't want to buy here since prices are incredibly high.I want to invest in growing communities, not exactly sure if I want to buy an AirBnb as my first out-of-state investment or 3-6 month short term, or a 1 year+ property.

To your original question Karen, as private lenders you are going to get deals where borrowers have low credit scores or are in tricky financial situations.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.