. $7k x 15 months is $105,000.

I am willing to do a cash out refinance in the next few months.

We lived in it for a year, remodeled both units and put in place a long-term tenant on one unit and a mid-term tenant on the other.Here's a little more details about this deal:*   Purchase price: $163k*   Financed price: $132k @ 7.625% APR*   After repair (estimated value): $225k*   Gross rents: $2150 ($750 one year lease & $1400 six month lease)*  Annual taxes and insurance: $7000*  Approx credit score: 650 (I used interest free credit card to pay for remodeling this property and maxing it out caused my score drop almost 50 pts!) 

. $7k x 15 months is $105,000.

Everything I have read says I wouldn't get a 2nd conventional loan right away even though my numbers are excellent (credit above 800 and over $500k in my 401k with a monthly pension). 

For me it is usually a 24-36 month loan at between 13-15 APR%.

It's really aggravating because they did NOTHING when the former owner let the garbage pile up in the park, had leaking sewage in the park or the water was turned off for 4 months. 

They should provide a monthly/annual statement showing all income/expense details.

How does one acquire the necessary information in determining average monthly income?

On your other two points - The ARV is from recent comps in the area in the last 6 monthsThe rent is also very good/decent in the area (from Section 8 tenants) - approx $250/month of cash flow when you remove the mortgage etc.