@Ben Cochran I hope you have factored STR tax savings into your cashflow and ROI as it can be significant.Leveraging equity to purchase a short-term rental (STR) in Tampa Bay can diversify your portfolio and potentially generate strong cash flow, but it also increases your financial risk.While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.

The scariest part is taking on debt at 75% LTV and less than 10% of BAM's money is in the deal.

This new property is pumping out around a 10.5-11% cap currently.My credit score is not great as it sits, hovering around a 650 but slowly increasing as i'm paying off debt.

If I finance the rebuild then the 1031 exchange presents some challenges (I will need to land a property that cash flows or breakeven so that I can get the loan for my rebuild, or banks will count that debt against me).

So why work, why stress herself out, take on student debt, hours away from family doing that 9-5 all to achieve about $80kyr.

Backstory: 22 years old about to get out of military after first contract. 70k cash saved up & 775 credit score, no debt.

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.

And for vast majority of persons delayed debt payments results in accruing debts, because they find they have less left to pay down than hoped.

They got fundamentally sound real estate, with matching debt (10+ yr fixed rate) and budgets with the intent to hold nearly forever. 

. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.