I’ve often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you’re purchasing another property.

I'm at the beginning of my investment career, fresh out of college and pretty heavy in debt at 7% interest.

With your Fico and down payment, all you need to do is make sure you pass the debt to income requirements. 

Yes  I think the best move here is to asses your total monthly debt and see if a cash out refi will help decrease the total interest and monthly debt obligation.

Quote from @Joshua Piche: Im looking to move out this year and house hack my first property I’m 24 debt free still living with my parents .

Quote from @Kevin Sobilo:Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45% Obviously I made a typo.

DOS or more commonly known as Event of default.Alienation of title is an event of default in most all debt instruments not usually located in the Note its in the mortgage  deed of trust etc.And along with other Events of Default  IE non payment of Insurance or tax's or waste these all give the lender the right to Accelerate the note but not the obligation..

They're the ones working with those agencies on a regular basis and have the best referrals.As far as recovering the debt, try leveling with the tenant as much as possible so they grasp the seriousness of being sent to collections.

Meaning you cannot just evict a tenant because their lease has expired.You will have to build sufficient evidence admissible in court and to the satisfaction of a judge to prove good cause to get a warrant of eviction.Many housing providers kept high risk tenants on month to month leases so that if the tenant stopped paying rent, you could simply give them a notice to vacate and recover possession of the rental unit that way.The reason for this methodology was because the HSTPA of 2019 passed in NYS made it extremely onerous and costly for housing providers to evict due to non payment.That method under good cause will be eliminated.So you can still keep tenants month to month but you will need to document the lease violation due to nonpayment rigorously.How many times and how late is “good” enough?

You can then get financing either through refinancing the entire debt stack or getting a second mortgage with the same bank that did the first mortgage.