Get a HML to lend on it for 24-36 months and then refi based on income a couple years down the road.

All mechanical, insulation, drywall etc are brand new.   

I understand that some couples set up 51% female owned to qualify as a "woman-owned business," don't know much about what this does for you, anyone else?

Another thing to keep in mind is if you need to refi to get money out in a couple years in the future for your next down payment there is a big possibility you will be doing so at a higher interest rate.If you pay more down you are not reducing what you are paying monthly just shortening the number of payments in 25-30 years.It looks to me you are in a growth stage and having a stable predictable property with more debt (paying off at a regular rate).

@Cole ShawdThis question is difficult to answer as we don't have all the information.There are a couple of reasons your CPA may have said what he said.1) You may be making over $150,000 and not eligible to utilize passive losses from your rental against your other income.

In that case, the agent took 20% - very reasonable IMHO, as she had to do a lot of the legwork (including finding a buyer and showing the property a couple of times), and for that, she ended up with just a couple of thousand bucks.  

Also, it feels a little weird to tell my brand new tenant that an appraiser will be coming through the house right after they moved in. 

She said they have a couple of places in the city already, and are looking for another one due to a potential ownership change in a current setup.

I usually find appliances a couple of years old for dirt cheep, far less expensive than repairing major parts.

A couple who was selling their house applied for my rental.