The loan can be pre-paid. 

I ALWAYS require MINIMUM 3X rents in gross household income, no exceptions other than pre-paid for FULL lease term (yes, I lease this way, not theory).

Definitely try to do a recast on the property with a lot of equity down or any property you have prepaid.

The owner also provided daily cleaning services, access to dedicated Wi-Fi, access to beach and recreational equipment, and prepaid ride-share vouchers between the rental property and the nearest business district.

“Cleaning fees” can’t exceed 10% of rent (though it sounds like prepaid cleaning fees?

So, you are not skipping anything.Further, using the same May 7th closing date you would see on your closing disclosure under pre-paid interest you are paying interest from the day of closing until May 30th. 

That's why you get a 1099 for the gross amount.This gets tricky on prepaid rent.

30 year fixed, low interest rate DSCR BLANKET loans (put multiple 1-4 unit properties under one loan for cash out or for purchase).Ground Up Construction loans for aspiring developers with NO Experience100% Financing on Fix and Flips (just pay closing costs and prepaid taxes/insurance)Fix and Flip financing that requires no appraisalHELOCS on investment propertiesBuilder's Forwards (for medium to larger developers who want to hedge interest rates on their properties they plan to sell so they can offer "low builders rates").DSCR loans for long term AND short term rentals (I think this is becoming more and more common, but some people have still never heard of this).And so much more!  

@Samuel Metcalf- sorry ...getting  heloc on the rental duplex  will be hard / impossible to obtain ....if you can  get one - it would be a great option to use for the  remodel / landscape ....if you have  50K equity in your primary -you likely dont have  ample equity position to get a HELOC  on it as the max  comboned loan to value for helc lenders is  85%  ( maybe  90% ) ...I would try getting helocs on both to see whats possible ...if no heloc is possible - use the cash on hand for the purchase down payment / closing costs / loan fee/ prepaids and then use future accumulated savings for landscaping 

When it came time to to buy and close on the home the management company had compiled 4 yrs of payment history that was reported to credit bureaus and had all ready reported the prepaid 10k down to the seller too.