Save and buy your second property.I'd also advise to buy in locations where rental market will always be strong, not dependent on one type of employer or industry. 

For legal, insurance and any other related purposes, I believe your attorney would strongly suggest you either let the lease go M2M, or replace the existing lease with your new lease (in your name or your company name), but do not create and execute an extension on someone else's lease.Most leases contain language that turns a long-term lease into a M2M upon expiration.

Below is a timeline that i follow which fits most of the guidelines and as property owner we would have very strong case to build anytime . 

What I would like to gain from this post is to build a strong relationship with a REA that is familiar with the SHU area.

If its within a reasonable window, it'll probably appraise for the higher contract amount unless there are very strong comps.Get a contract drawn up and work with an attorney (not sure if you all use them out there, here in Illinois we have to).

On the residential side, you can have up to 10 loans per spouse (assuming each of you can qualify) and the terms will be much more favorable, but you are approved based on your finances, so if they are strong your experience will not matter  

I have never cared for the style of Mr.

We have started investing in the midwest but in a market that does not have strong economic growth, but it's steady. 

I can certainly make some suggestions on a Georgia-tested lease, but I've gotta say this first...If you're raising the rent anyway, I would strongly urge you to consider adding in enough margin to have the property professionally managed.Property management is where most buy-and-hold investors lose their shirts!

If you can't reach the owner then try to strong arm the HOA/maintenance man/realtor to do something.