Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.

I wouldnt, so long as you have your requirements laid out - they should be able to know if it is even worth applying.

It is pretty easy to keep it fully occupied but it does mean I turn away a ton of people who want a lease that doesn't quite fit my requirements. 

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

There were several mistakes made on my tax returns that I pointed out, which required going back and forth with their tax preparers, and asking repeatedly to cut to the chase and have a phone call.

Often it's a really easy fix or operator error that does not require a pro.

If the latter, simply give her the notice required (eg 30 or 60 days) that she needs to move. 

High credit scores and low DTI are often required…and these take much longer than I first thought…Navy might take 45 days to get through the gauntlet.  

But, they still require time and effort.

The interest rate is nice, if there was a way to increase the cash flow to ~15% or greater COC you could pull a HELOC on the property for 9% and collect the delta.again though, i would suggest selling it and trying to lock up a property or two with the proceeds that required some sweat equity, force appreciation through a reno, rent it out, refinance and repeat (BRRRR)