To pay for the renovation, we did a cash out refinance.

That is my definition of "treating tenants like paying customers with fairness, care, and respect."

All it's looking for at that point is total liquidity, credit score, factors on the property itself.1040's, pay stubs, Debt to Income ratios and things like that aren't a factor here.

I have insurance right now but I am paying upwards of $600 per door! 

He is paying a rate higher than a bank but lower than hard money and he can refinance after his equity has increased. 

Then, if you have any debt, start paying it off quickly.

Maybe throw in the appliances if they pay on time.3.)

OPTION: There's a real knowledgeable member Ken that posts about Subject-To deals that you might want to connect with and even pay him to mentor you.

I've been wanting to do one in miami Dade County and there are three infill lots right now down in homestead if you have interest in that area. everything we do is ground up. entitlement is where it starts and land development / identification. happy to connect and chat further.

Knowledge and experience only come in hand after you've made those mistakes in life and business. nursing is a guaranteed pay check !