No additional costs in projections. 

Actual T12 goes thus: income $54,930, operating expenses $22,305 and NOI $32,625 as listed.

After a solid 6 month intensive full rehab and pulling all the cash invested out I like to tell my wife 'Hey look at all the free passive income we have!'

Any additional feedback on their performance would be great.

Lenders have expanded their guidelines to allow for up to 85% financing assuming healthy credit and income is producing above what the debt obligation would be for the home. 

A DSCR is a debt service coverage ratio loan (against the new property) and effectively uses a proportion of the current or proposed rental income to qualify.

So, I started buying between 2009-2012, which was a few years earlier than I wanted (I was hoping my wife would be back to work after raising the kids through kinder and we'd have two incomes). 

Yes it will be considered a cash out refinance so there will be additional loan level pricing adjustments that will increase your rate slightly.

Value is a function of the income the property produces.  

So, my end goal is to replace some of my current income.