A few years earlier in 2012 I had filed for bankruptcy and was just now eligible to buy a house.

I know how stressful it can be with those gaps in monthly income.I personally use the standard Chicago Association of Realtors lease...do you have a copy of this by chance? 

If you plan on buying 1-2 properties a year at $200k, is a commission between $3-6k.2.

If all you do income-wise is rental properties, there is a good chance that you cannot show enough income for lending, no matter how much you play with depreciation. 

BUT, if buying a new investment property you can use 75% of the appraiser determination of the new property.If on the tax return, you can use short term rental income OR long term income.

Others is buying dirt from the farmer platting it doing all the horizontal work then building structures . full gambit .. 

Congratulations about buying your first rental property!

Buying another multifamily would complement the 6 SFH and round out your portfolio. 

There is a chance that it will appraise high enough to where I can refi to a conventional without any pmi.

Hi Rebecca, DSCR Loans are a great tool, depending on your goals this is a doable deal. 75% LTV is possible.The rate is not going to be pretty, but you can buy you down to a 1 year prepay, get your credit up and with rates dropping, refinance once again in 12-24 months.