I would do that all day long, personally.  

Your debt to equity ratio will need to meet the lender's terms.

😎 Gerard, If you can email the property address, I can get you the current DSCR Rates and terms.

Hey Jordan, im an investor and agent over in Phoenix Metro who actually got started investing out of state when I was living on Long Island, lets connect!

.- Underwrite the property to breakeven or small positive cash flow as a standalone long-term rental to a single tenant.

Our experience is that A class tenants don't stay as long as B class.

If they are over for a long-term then under rented.

How long does one have to own the home to apply usually?  

Thanks @Henry Clark - Our short term goal is to have a nice place for vacation, make a few dollars, and serve as a jumping-off point as we explore becoming part of the expat community in a few years. 

It is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.