Other than that, it's pretty much move in ready. 

I didn't read this to ensure its accuracy but it certainly looks to be from a credible source. https://www.irs.gov/pub/irs-utl/33-Real%20Estate%2...Cliff Notes:Real Estate Professional Qualification • Material participation in each specific rental • Material participation in separate Real Property Trade or business • 50% rule • 750 hours rule • 5% ownership ruleReal Estate Trade or Business Defined IRC Sec. 469(c)(7)(C) Any Real Property: • Development or redevelopment; • Construction or reconstruction; • Acquisition and/or conversion; • Rental Activity that is not a Passive Activity; • Property management; • Brokerage activities.Example 1: Laura owns 5% or more of a real estate sales office • Works full time as a broker • She owns 3 rental properties and: • She finds the tenants; • Approves tenants and leases; • Approves and oversees repairs & improvements • Net rental losses are $31,000 and her modified AGI is $160,000 before the losses • Deduct the full $31,000 in the current tax yearExample 2: John acquires old homes and contracts 3rd parties to renovate and ready for resale.

I am actually extremely excited to ready your response at it is exactly what I went and did. 

I plan on talking to a bank but I don't think I will get approved for such a big loan based on my income, and from what I've read I can't use the rental income of the property to help me get approved. 

We have finally gotten settled over the last year and I am ready to start my local networking and meeting like minded investors. 

Just hold out and refinance when we're ready to start buying other properties?

DEpending on wha tstate you are in , this could be a costly and time consuming process.I just closed a deal where escrow is holding $2000 of seller proceeds to be used for tenant eviction in case they do not move out according to the notice given. 

Its almost ready!!

Lastly, as I am writing this introduction message (which I know is long) Erin and I are getting ready to go see our first few properties with a Real Estate Agent this coming weekend!

I have read several books in preparation for this journey, but I am finally on the hunt and ready to get the ball rolling.