If you've not read Debt Cleanse, you should.

The number of DSCR (Debt Service Coverage Ratio) loans a lender will offer can vary depending on the lender, your financial situation, and the property cash flow.

I literally laughed through the phone at his suggestion, because I was broke, in debt, and in every way and unqualified borrower, and the lending environment in 2012 was probably stricter than it had been since the invention of the 30yr mortgage.

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.

Some people only want 10-20% of their outstanding lines/debt balances available while the other 80-90% to be in fixed rate notes.

Eliminate debt, establish a budget, and save.

There is no requirement for @John Gillick to replace debt with new debt. 

Eliminate debt, establish a budget, and save.

no debt? 

Shop LTV (or cLTV which is combined Loan To Value, basically your first mortgage and 2nd mortgage combined loan to value), rates, payment terms, time to close,  and draw period (how long you can go into and out of your heloc).