Im currently in the process of getting it rolled into an actual mortgage since these are rentals.

We have one rental property in Frederick MD and are investing out of state.

Ensure your contractor has a clear timeline, keep extra cash reserves, and start marketing your rental rooms early. 

Buy an umbrella through your personal lines agent with a rider covering your rental.

Prior to my clients' closings (rental properties in 2 states) in the last 6 months, I worked with IPX to prepare for DST investments.

Letting Go for Your Bottom Line: A Lesson for Real Estate InvestorsHey BiggerPockets Community,If you’re a real estate investor, whether you own rental properties, flip houses, or manage syndications, there’s a critical lesson that could boost your bottom line: Letting Go.Many of us get into real estate because we want control over our financial future.

That being said my residential rental will have a positive cash flow of $500 and I plan to rent out this other side of the duplex immediately and will have a balance of 600 to cover for the mortgage.

(assuming rates are where they are today and rental prices increase during that time)Now, this may not need to be a 5 year lease.

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

Then any rental income you could obtain from that property could be used as an income source for loan pre-qualification.