My husband just received notice that he can schedule his exam date.

If I need additional funds, I can give another lender a second mortgage after explaining to them that the first mortgage holds a stronger position.BUT... if you do some paperwork with the state and set up an entity.

Additionally, holdover tenant is now subletting out the rooms making income and advertising it on 168.com.

Subtracting the additional $30k I put in when it had negative cashflow, that's still $11,500/mo. 

While you may receive numerous inquiries from individuals casually browsing listings, focus your time and energy on serious prospects.

I personally am okay with having a cosigner for a tenant because this adds an additional person who is financially responsible for the lease if the tenant is unable to pay rent or for damages they cause. 

heloc terms are not the same as fannie mortgage terms (like @Chris Mason mentioned)for instance I have a 90% heloc on an old primary that was ZERO cost, and the rate is prime -.001%. this additional LTV might help your cause. a heloc is also not necessarily due once you move.

In addition, in our lease agreements we require tenants toobtain renters insurance for theirs and our protection. 

Common additional apps are things like Receipt Bank or Hubdoc for receipts.

for such a small addition, skip the architect and just get a general contractor