Plan is to add two additional units to the bottom floor and remodel the upstairs unit. 

The local HML can usually pull the trigger much faster than an outside person does because more research has to be completed to asses risk in lending for that area.This is why local HML lenders rates might be lower than a national HML lender that prices a few percentage point higher and one to two points more to price in the unknown factor of the area.

For example, the same house that is one or two blocks over on a quiet street should be more expensive. 

As two veterans just starting out in real estate rental investing, our goal is to share our unique perspective and the key lessons we're learning along the way. 

Why those two states? 

I work for a third party auction company in Texas and though a month or two may not seem like it isn't enough time, it actually is if you have your buyer list available. 

I smell a refi in your pipeline a year or so from now, remember this isn't a home loan, so "two years of tax returns showing a profit" is NOT a hard/fast rule at all to get the best terms.

Two quick thoughts is partnership, equity style.

From what I understand the two best strategies are Skip tracing - Cold call or mailing.

I believe I have two options.Property Info:Purchase Price: $365,000Current Loan: $329,000Interest Rate: 5.7%Mortgage:$1900PMI:$130Insurance:$157Taxes: $320Current Rent Left: $1200 (Market $1400)Current Rent Right: Owner Occupy (Market $1800)1.