Quote from @Paola Astrid: Should I refi to dscr or conventional to remove pmi?

If they are CF positive then they will not cohnt against your DTI but will improve it...that's standard conventional guidelines barring a few exceptions.

I went owner occupied either conventional or FHA.  3-5% down at the time you only had to live there 1 year and then you can move out or move on. 

You can get conventional, FHA or VA rehab loans.

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

Since you have work history, if you get a job with salary income and a credit score above 640 (680 realistically), a conventional cashout refi is within reach as soon as you reach those metrics.

If you can come up with an extra 1.5% and finance with a conventional loan you have none of those downsides, a lower monthly payment and PMI only until you hit 20% equity

We have a shortage of qualified applicants and conventional renters, which was created over Covid 19.

For Conventional, you can only use 75% of the gross rent until you have Sched E history for the rental for a net rental income analysis. 

Once you file your 2nd year of tax returns, you may now be able to qualify for Agency Loans (FHA/Conventional).