You might choose not to renew leases, make improvements, and then raise rents after taking over.

Reducing rent sets a precedent and can attract price-sensitive tenants rather than those prioritizing quality.Negotiating renewal terms can make sense if tied to benefits like lease length or tenant stability, but always ensure it aligns with your long-term goals.

Only at that point can an underwriter recognize it as an income producing property. that's for some lender ; for other lender they can use appraisal opinion.to reduce dti from primary you could also attach lease agreement and proof of income.

As long as you express the key details of tenant information, lease dates, along with any standard information to vacate, and clear language of "non-renewal".

We have placed tenant buyers in the property on lease options so we get a little higher rents and the tenant buyers take care of the property repairs.

If cash flow means you make $8 more than your mortgage payment in month 4, awesome, you have $8 for that month.But.... if you factor in closing costs, make ready costs, leasing costs, repairs... it's typically years out until TRUE cash flow, with a value add or a turnkey (unless you absolutely knock it out of the park with a BRRRR and then somehow cash flow after the refi, which I guess is possible but very unlikely.)

There was a lot of time where we worked with the tenant, we even gave them a new lease starting which forgave the past due rents.

Do they have solid banking relationships and broker relationships to lease out the units. 

It is required the Property Manager return all personal property belonging to the Owner such as keys, entry codes, copies of lease agreements with existing tenants, tenant deposits, and any other files or information necessary to manage the property and the tenant(s)."

- You've got to go to the property for showing- Many do not show up, so you waste your time- Then you have to have a legally compliant rental application & lease- Some approved applicants disappear the day before or day of lease signing!