Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.

With where you are at currently, I would recommend a regular tax prep agent from a company like H&R block.

You already have a townhome that you currently live in - why not continue to look in Tampa instead?

Posted this on the Multifamily section, but realized after I should post it here.I am a current Senior at the  Catholic University of America playing Baseball and finishing up my accounting degree.

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Check it out.I am currently licensing a 12 bed RCFE in Santa Cruz, CA.

Current market rental price is about 20% higher than existing rent.

I currently have a single family property averaging $330 a month in cash flow which is going into a basic checking account seperate from personal.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.