Also if it is intended to possibly be a rental you should calculate the end result of the acquisition, the debt service, the rehab, etc and pretend to get a loan to refinance. then look at the potential rent to offset that monthly cost and see if it would cash flow.

If you were to refinance property one and pull out another 100k (lets assume a 500k house in tampa that you need 100k for a down payment), you'd be paying 6.5% or so on that 100k. 

Focus on expanding your deal sources, assembling a reliable team, and learning from every transaction to refine your process.Good luck!

Given your situation, one strategy that could work really well for you is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). 

You would either need to sell and pay commissions, closings costs and maybe tax on some proceeds OR you would need to pay fees and closings costs to refinance.

I know with conventional loans the property cannot be in a trust or LLC when you go to refinance. 

Some banks may lend as a HELOC on the rental property, or refinance it, but you're right you'd have to get your mom on board for that. 

If it didn't mean sacrificing a few points and higher payments, I'd refinance all of my properties with my local CU right now. 

Use platforms like BiggerPockets to refine your goals, connect with others, and take actionable steps toward your first deal.Good luck!

what i'm finding is that, if i BRRRR successfully and then refinance into a DSCR loan, almost every property is break even or slightly negative.