I won't see any rents or income until after the construction phase is completed.   

Most lenders require a leased property to qualify for a cash-out refinance, especially with a DSCR loan, which is based on rental income.

These are often people making 600k to millions a year or higher in income but live 100k to maybe 200k lifestyles and invest the rest.4.

I then did some wholesaling, land flipping, did some more buying and am now just doing lending to build up active income.

The only thing that makes these properties turn key is the fact they are move-in ready for a lower income tenant with low expectations.

Is her goal to be nice and provide some of the gains or reduce her taxes by trying to split income between her and her ex?

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Agents on teams will get leads, learn the business and leverage the team for their higher income and future business success. 

now, if you want to buy an STR as an investment, and you NEED the income to support it, that's totally different...

Eg, i have a friend/client who determines it based on income vs PITI.