After submitting the application and credit check, he also informed me that his girlfriend would be bringing her "emotional support dog" with her during her stays?

I want to make sure my property is getting managed well and everything is taken care of such that I minimize vacancy and other tenant issues that would add additional cost and headache, but I haven't ever heard about PM fees being this high.

@Kristi TietzI'd be very careful using this tactic to get started, especially if you plan to use borrowed money to lend out such as HELOC or credit cards.

Have you looked into cost segregation studies, bonus depreciation, 179D, historical tax credits, etc.?

Additionally, upgrading the finishes can increase the value of the property and make it more competitive in the market.

However, when you sell the home, you will owe 20% of any appreciation on the home in addition to whatever you borrowed.My intention going into this was to house hack for a year or so and then refinance.

By renting out the additional units, investors can cover their mortgage and expenses while generating passive income.2.

This is why it is important to make sure your day to day operations are run properly and every vendor who performs work at your property and /or on behalf of you is properly insured and you are added as additional insured under their policy (not merely a certificate holder). 

You can use DSCR programs that only looks at your credit and the property itself.Either way, it will be important to have a high enough credit and down payment to qualify.

@Forest Wu Here's an article with additional FAQs on cost segregation studies that you may find helpful.