And you still get the same benefits in terms of tax benefits (depreciation is a beautiful thing), rental profits, principal paydown and appreciation. 

And you have a lot less availability in terms of rents.Overall though,when it comes to investing out of state, I would always suggest people look at STRs.

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.

I get quicker responses, guidance, relationship building, more trust, and overall feel like their quality is a lot better in terms of inventory/customer service.

I have researched the Airbnb avenue in terms of what’s required, etc.

I'm curious if you can share a little bit more about if you have cost estimates in how much going through the eviction process was in terms of your time, legal fees, lost rent?

In terms of what you are doing, you are on the right path.

I have seen a tremendous difference in terms of how my property performs now. 

While the added value may not directly correlate to the cost per square foot of the main house, the investment often pays off in terms of increased property value and rental income potential.Let me know if you have any other questions!

That approach is commonly being couched in terms like, "you can save money by not going through escrow".