I recently did one where the lender did allow it but that was because of our position as a great customer of the bank and our impeccable credit record.  

When interviewing property managers, make sure you ask plenty of questions, thoroughly review their management contract, and request references.A little due diligence upfront can save you a lot of headaches down the road.

I have worked really hard over the past decade to position myself to begin to build my portfolio. 

When your content is helpful and tailored to their needs, it builds trust and positions your business as the go-to expert.

I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy. 

This creates a negative initial position.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

You and your wife are considering a move to be closer to her parents in Scottsdale.The largest source of liquidity for you is the equity in your home at 1M and you have a 4% mortgage and it will cashflow positive if you rent your home in Seattle.Your question is should your sell your house in Seattle or rent it. 

My colleagues may choose a different position.