This is the renovation criteria I use in order to make sure the place is clean, safe and actually ready to rent. https://docs.google.com/document/d/1MreMNvXxPZy7AaqMGMFPVunQ... 

But after an exchange - sign the purchase documents with one pen and pick up another pen to sign the refi docs :)Another strategy you could consider is reinvesting into multiple properties, where you purchase the first property cash (ensures some security and concentrates the equity) and the second property with a mortgage.

This was also confirmed when I went there to submit the required documents, but they couldn't give me a proper timeline on when it would happen claiming that they were backed up. 

Quote from @Sebastian Bennett: During underwriting they requested entity documentation for past completed projects.

@Tyler Jahnke nice documentation and good luck.

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.

Document everything. 

https://www.biggerpockets.com/...12 Frequently Asked Questions (And Answers) About DSCR Loanshttps://www.biggerpockets.com/...8 More Commonly Asked Questions and Answers to DSCR Loanshttps://www.biggerpockets.com/blog/eight-questions-and-answe...What Documents Do You Need for a DSCR Loan?

Steve,thanks for the comments and the reference to the IRS documentation to clear up this matter for me!

Try reaching out to the Thornton Planning Department for any documentation they might have on file.Check Legal Precedents: Look for similar cases in your area.