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.

Everything you need for asset management on small or medium portfolios without much frill.

My estimate is 90% of the time we obtain a tenant in our first open house.  

We have invested in these type of deals in Milwaukee and there are pros and cons to this asset class.All the best man!

Quote from @Brandon Vukelich: Question: why would you sell an asset that generates a profit today and will generate a more significant profit in the future?

Otherwise, you will give another agent all of your future commissions and/or you will have to retake the salesperson exam to obtain your license again.

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.  

This also allows for property owners to more easily write-off assets that get damaged/destroyed as the value of these assets is determined as part of the study.

I'm just not seeing any strategy that can offset to any significant degree, the depreciating nature of either asset.  

-- solid strategy as well, if you go this route I would consider investing with an operator that specializes in this asset class.