keep in mind 2.9 % or really any mortgage in the 4's was a once in a investors lifetime situation.

Thursday Dec 12th, 5:30 pm at my office 4103 S Texas Ave Suite 105 Bryan TX

I will be a 1st time home buyer , when getting a loan from a bank how do i show them proof of income from my 1099 form/s.

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.

Do you have a/some target area(s) in mind yet?

Think of it as s long term investment that will save you headaches down the road. 

Are you/your partner(s) foreign nationals or non-permanent resident aliens?

Hawaiian real estate law differs from other western states significantly, mostly due to its monarchal heritage and the Bishop Trust influence.The basics are the same as would be in California; determine the condition of title ownership (individual(s), estate (including conservatorship, if appropriate) OR fiduciary acting for trust.Use a qualified private money equity lender to make a loan sufficient to buy out the cash-only beneficiaryThe legal community in HI and Big Island in particular is small.

Quote from @Marc Shin: I have an older 1920's duplex, and the outside looks just ok, but not great.  

In a very simplified example, 33.33% of the interest expense on this loan ($500k distributed / $1.5m loan balance) is now attached to the boat(s).