The keyword is I bought one month ago.thank you  If you did not make any improvements on the property, you will need to wait at least 90 days seasoning to refinance on a long term DSCR loan.

Sometimes the best investments are the ones you wait for.Here’s the kicker: utilities and zoning can make or break these plays.

That is assuming your DTI can cover the increased mortgage payment.If you have use for that extra $100k that you would get back right now then don’t wait.

But, since I've been in a holding pattern waiting on the Florida builds, I haven't seen a clear path forward to purchase another house while waiting for the builds to finish.That really doesn't answer the question of why you decided that your "plan" was to buy one property per year. 

Hi Raghavendra,Sounds like you just need to wait till your LTR tenants move out to start setting up the property as a MTR. 

I was not able to receive a refund because I waited too late after purchasing to request one. 

You may safely wait for the best deal to come your way. 

If this is how a cash out refinance works, it feels like the strategy is to either have more to rent out within the property (multi-family), wait for average rents in market to increase, rehab the property more and increase rent more, pay off the property/ more of the mortgage and refinance again without a cash out to decrease the mortgage (I don't even know if I can refinance a property twice)? 

So my question is: should I wait until my lease is over and then buy a multi family that I can house hack or should I buy a smaller investment property in another town now and then get a heloc when my lease is over for a house I can live in?

I like the West Mobile area, its class A area, you can definitely find deals there, 3 bedroom with 2 bathroom for around 220k or so, you may have to wait a couple of years for positive cash flow but properties there increasing in values better than others.