@Craig Curelop is a great resource to assist with this as he is in Denver and wrote the book on house hacking for BP.You are a little numbers heavy vs. expectations meaning that it seems like you are really counting on these numbers to work and they could be tight which can be scary for a first property.

Don't chase unit counts.

So unless you plan on refinancing within the first year, the refi money doesn't count towards it.OK. 

Now this might be controversial and some people may disagree with me (even some of my coworkers here at BiggerPockets may have a different opinion which I completely welcome), but I really don't think you should invest OOS in this current macro environment with less than $100k (down payment + reserves).

I think you can't go wrong with a long term rental, but don't count yourself out of STRs because of your location.

Some lenders will base off the "mix" of commercial vs residential by sqft and some will base off of rent, and some will base off of the unit counts, so you'd want to take advantage of the lender/broker that can fit your scenario in the most favorable way possible.Is the property fully occupied?

Personally, I'd prefer getting in with the Boston market over Jersey, and would not count of prices dropping drastically anytime soon.

His question was, if you have a long-term residential lease signed 1+ years and the property is rented out, does the mortgage still count against your DTI?

Thanks for sharing your knowledge For a rough calculation you could take the annualized P&I payments / the purchase price. 1256*12= 15,072 / 75000= 20% annualized returnI use a simple xls spreadsheet with Present Value (PV) macros to calculate my offers based on P&I payment and remaining term.  

They also have a 'turn key' annuity asset that they can count on for consistent retirement income.