First year was very rough with poor property management and tenants.

@Katie Lyon Because our weather is more temperate over the winter months, we have much more consistency in demand across all times of the year, so typically the market stays fairly consistent through all seasons.

Lots of folks invest here. 15+ years Realtor/Wholesaler experience.

@Allen Zhu -Reading, along with many other eastern Pennsylvania markets are seeing significant growth compared to other areas in the state/ country.

I would like to have a small portfolio in 2 years.

For most lenders, they wanna see a 12 year lease in order to count the income to help your debt income ratio. there are not many lenders that I know of that will include short term or midterm income as part of the income side of your DTI. 

You are going to need to see their tax returns to see if they are telling the truth.And what is the interest rate that they are offering you?

Eg (making up numbers) if a fridge lasts for 15 years, and they break a 10 year old fridge to the point it can't be repaired, you can only charge them 1/3 of the price of a new one as it had 5 years left.For the keys, if the ones she gave you don't work for the new locks, then charge her for a locksmith who will come by and re-key all of them. 

The last Liability only policy we did was 7 Single family rentals in FL, $1M of coverage for $1,700 per year. 

Usually you need to go to small community banks, credit unions, etc to get these kinds of loans.