Whenever I tell my wife I’m a rockstar - she rolls her eyes and tells me to bring out the garbage. 

Both units are decent unit 1 and 2 need a light rehab just a lil outdated so i will be doing renovations after the leases end so i can get a higher appraised value in august with new rent rolls and the light rehab changes zillow and redfin says i can get 215k max im hoping i can get the value up to 250k by the time im ready to cash out refinance with inflation and low supply and moderate to higher demand im hoping the market keeps appreciation. i got a hard money loan for this duplex it was my only option as i graduated highschool in june of 2018 and went to trade school in sept 2018-  november of 2019 i started working shortly after and in march of 2020 i got laid off.

It just means you were able properly fill out paperwork and pass a test.

@Matthew Crivelli thank you, trying to get this ball rolling!!

The VA loan is great for this and the feasibility test doesn't need to be met like the FHA loan product.

And don't forget to roll ove some of your 401k or IRA into a Roth IRA! 

Just so you are prepared, if you pick up a 3-4 unit property using FHA as the loan, it must pass a self sufficiency test.

Super happy to finally get things rolling.  

The losses accumulate and roll forward, getting reported in an attachment to your return called Form 8582.You'll need to report the rental properties in the state n which they are located.

And if the property you have now is a good one and can stress test a higher mortgage then just do a refi on it now.