I wish someone had told me about this when I bought my first place.I run a Property Management company and would only recommend a property mgr if you are cash positive or physically cannot tend to the property.  

Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.

You are in a decent position and if done right you will be ok over time.

As we continued to scale, we eventually added a positions to start taking some of my wife's responsibilities. 

I hired a litigator to review my position, and they concluded that we had a very strong case.

Suggest you monitor the media feedback during the NFL Draft this weekend - which we expect to be very positive!

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

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.

With the rental method- you need to ensure that the numbers make sense and that you will be bringing in positive cash flow.