After some digging, I found a helpful and very recent article that appears to agree with this (see link).https://www.keepertax.com/post...At this point, I am feeling a little better because it seems I may actually be just fine (i.e. no need to issue 1099s)!

Some people are just not willing to take risks with leverage - and I think that is fine.

I also am fine closing my purchase in cash, and refinancing shortly thereafter (or even down the road in 6-12 months).So for my questions:1) I've spoken with some mortgage brokers- they all seem to charge a lot of upfronts and are telling me I need to do a DSCR loan.

There are exceptions - some properties are set up such that installing a few electric baseboard heaters might be possible to save on the gas bill - but i would still just shy away if not metered separately at the outset.  10) do shop for a lender and compare (usually pretty standard but there can be some fluctuation) - dont fall for the ones that sound too good to be true - there are gimmicks out there - big bank or reputable broker should do you fine.  

But make sure to read the fine print of the policy, that way they don't say it's STR okay but in the fine print it's not.

My parents are fine and don't need help like that. 

For example in Tampa its younger and a lot of people are fine living next to an STR and they are more likely to be a friend than a foe. 

@Connie Kirkpatrick big fines and orange jump suits

It's like you're building a money-making machine with PadSplit, but the fine print in the financing realm can throw in a curveball.Have you run into any specific challenges or surprises when it comes to financing after making these renovations?

One can survive on a flip phone and not have a smartphone just fine.