I appreciate the info.Matt Of Course Matt, Nice to see you're from Kitsap county, WA.The Sub2 & Refi strategy has been something I've been looking at as an investor and loan officer as well and this topic just happened to have come up.

Sponsors are: Community Investment Properties, Legacy Wealth Holdings, Djuric Family Office (aka Blake Capital). 

If they are leaving, setup a walkthrough to figure out what you need to do to turn the unit and provide notice form for them to offically say they will be vacating

Adam,What you are dealing with is a lender or loan officer who set up "insufficient Escrows".

I have been a speaker for HUD out of the Washington DC office on Landlord issues with local housing authorities.

My 2+office was getting $1,450 in 2015 and now I get $1,900 with no improvements.  

Smaller square footage compared to Whisper as a 4 bedroom, which might limit potential rental income.b) Whisper, San Marcos:Larger home with an extra study room, which is a valuable feature for potential tenants looking for office space.

If I was doing this first thing i would do is talk to the county office that control sanitary and see what they will allow. this of course assumes your zoned correctly etc.. 

You have to ask as different offices of the same brand have different rules.

Hopefully the loan officer who quoted you that is familiar with FN and DSCR loans.