We have no issue doing exterior rehabs and landscaping while a tenant is in place, but it can be difficult to rehab an interior while a tenant is living in the space and you would likely want to hold of on anything short of emergency repairs such as a water heater or HVAC replacement, floor, ceiling or wall leaks, or mold.If these elements of the house are sound and you got a good deal on the house, you should have no issue finding a bank that will refinance the loan.

To me, you are mixing elements from both levels, which is perfectly okay.

I’m wondering how to I organize/package everything together to turn in to my CPA??

I'm looking for packages or portfolios for cash offers if any of you have any properties (or any investor clients with some).   

I know that it adds an element of credibility and professionalism, not to mention, it doesn't hurt to have the knowledge and know that you have a much less possibility of breaking the law.

Then package both together as collateral with a 85% line of credit to have some flexibility to buy the next one.

lol) With Platinum, you get the whole package: search sale or lease properties, find comps, owner and mortgage history, historical sale and lease listings, tenant history, market trends & analysis, and unlisted REO & pre-foreclosures.Basic membership is fine for most folks.

But whatever you do don't get sucked into these infomercial guru packages as they aren't experts except to sell books.  

Are you looking to package a number of properties? 

The plan was to purchase in December, refi in June, payback $140k in personal loans, take the cash and look into some bigger opportunities.Before I get ahead of myself, here are the numbers: Property 340 Oak Acquision   $44,000.00   Expense   Debt Service $0.00 RE Taxes $2,636.00 H2O $0.00 PM 8% $1,152.00 Ins $1,200.00 cap ex 5% $720.00 Operating Expenses $5,708.00 Annual Income        (Proposed) $14,400.00 NOI $8,692.00 monthly Net             (Proposed) $724.33 Property 338 Oak Acquision   $44,000.00   Expense   Debt Service $0.00 RE Taxes $2,741.00 H2O $0.00 PM 10% $1,440.00 Ins $1,080.00 cap ex 5% $720.00 Operating Expenses $5,981.00 Annual Income        (Proposed) $14,400.00 NOI $8,419.00 monthly Net             (Proposed) $701.58 Property 334 Oak Acquision   $44,000.00   Expense   Debt Service $0.00 RE Taxes $4,078.00 H2O $0.00 PM 8% $1,152.00 Ins $1,080.00 cap ex 5% $720.00 Operating Expenses $7,030.00 Annual Income        (Proposed) $14,400.00 NOI $7,370.00 monthly Net             (Proposed) $614.17 The owner was looking to sell all 4 as a package for 200k (50k each).