Hey David, the best metrics depend on your investment goals, risk tolerance, and market conditions.

Qualifying for REPS does not automatically mean you can offset income, you need to have material participation, at least a 5% ownership stake and an amount at risk. 

Always feel free to reach out with any further questions!

Feel free to reach out to chat all things student housing! 

Since your property has high resale potential, some lenders may be willing to work with you.Cash-Out Refinance – If you’re open to refinancing, you could take out a new mortgage for a portion of the home’s value (say, 60-70% of the $500K), and use the cash difference for renovations.Personal Loan – If you have good credit, you might qualify for a personal loan for part of the rehab costs, though interest rates are typically higher than secured loans.Partner with an Investor – Given the potential profit, you may be able to find a real estate investor or contractor willing to finance the rehab in exchange for a share of the profits upon sale.Your best option depends on your financial standing, timeline, and risk tolerance.

Quote from @Paul Lucenti: Creative methods tend to increase risk.

If not some free methods are using truepeoplesearch or cyberbackgroundchecks.com

My question is can we create a LLC for her and Dscr refinance our current property into it to free up my dti?

This way you have a free or mostly free refinance from a cost perspective. 

In addition to what was said above, for the software that has a free trial option, sign up for it and use the software for a day (or at least a few hours) as if you are using it for real, then call their customer support too and get a feel for that.