I reduced my responsibility to only taxes/insurance while the tenant buyer does the maintenance, pays utilities and makes monthly payments to me. 

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

I own a multi-family house that was converted from a single family, therefore, there is only one gas meter.

I remember watching ‘gurus’ talk about how you could make $5,000, $10,000 or $20,000 on a single deal.

The two existing units can rent for about $2,500 each, and a garage conversion single unit will rent for about $2,800.

I am ready and will be starting with property number one sometime, hopefully, quarter one of 2025 with a possibly 2 bedroom and 1 bathroom single family home; as this is within my current budget.

A travel nurse, for example, would typically stay 90 nights on a single contract.

Purchase price: $45,000 Cash invested: $45,000 Single family buy & holdHey @Malcolm Grundy!

•For your next purchase, check if you can leverage FHA financing again—it’s one of the most powerful ways to scale quickly.Resources to Learn More•Due on Sale Clause & LLC Transfers: Nolo.com•FHA Loan Rules for Multiple Properties: HUD Handbook 4000.1•Scaling from Single-Family to Multi-Family Investing: “The House Hacking Strategy” by Craig CurelopHope this helps!

It is very competitive but if you utilize good resources and think smart you can do really well!!