Maybe try it with only one of your rentals for a short period of time and see how it goes?

You want to be able to pay off the LOC at least 1 month out of a 12 month period usually to show the bank you aren't high risk.

College counts as part of your 2-year history.Regarding hiring a PMC, if this is your first property period and you are working that many hours, I'd comment that you have two options:1) Hire a PMC2) Buy a duplex and live in one side, so you can be more hands-on and available.Otherwise, I don't see this going well for you.

I assume you are outside of your due diligence period since you're at risk of losing your earnest money?

You're paying someone else for that luxury but it does nothing for personal wealth building.Lenders require 6-12 months seasoning period for a cash-out ReFi.

With a 2% annual increase of rent and variable operating costs the actual "recovery" timeline would be 16 years, at a 3% increase it would be less than 14 years, etc.Also the principal pay down and property appreciation during that time period can be very valuable.

What is the month to month notice period in your lease? 

On Jan 10th (this is the grace period we give this particular set of properties) he didn't have Jan rent.

Some of the challenges:1) Pairing clients with properties that with an affordable plan yield the results the clients need2) Get the property into contract in this aggressive sellers' market with strong STR property buyer competition3) Deep due diligence to minimize property risk during inspection period + create best COE plan to yield the highest possible cash flow + start scheduling post-COE reno work4) After COE, get the hot potato moving- help in any way necessary to make sure my clients get this work done quickly and without complications so they can get their property on the rental market ASAP and start generating cash flow.5) Occasional STR audits as requested (always an option) by clients, to further boost their cash flow, and effectively their home value- based on income approach.

@Brian Kempler In my area (Massachusetts and New Hampshire) Most banks have a 6-12 month seasoning period if you're looking to access the after repair value (ARV) of the property.