We had one house locked down years ago--then the sellers stopped paying their debts and should have been in short sale in the first place.

When an investment is illiquid (no real way to exit), you need a higher rate of return to compensate for the funds being locked up. 4.

Based on @Hunter Locke response, the software he mentions should allow you to play with different scenarios. 

If so, you might be locking price (at least in the recipient's mind).

There is a tenant that has gone through all of the application screening process, toured the house via my approval, and stated that they want to lock themselves in to a lease prior to the construction completion.My question is, do I simply complete a full lease now? 

I wish there is a feature where you can lock an email or text conversation to allow only all inclusive group replies.

Suggest not locking the rate until you have conditional approval in-hand, it might close in 30 days or it might close in 90, no way to know upfront and lock extension fees suck.

I am now currently looking to refi in order to lock in a lower % rate and take some cash out for my next property. 

No problem renting from PBS Realty as long as you change your locks after moving in.PBS Realty is a hands off property manager and they will stay out of your business.

@Shayne Whittington I just locked in a rate yesterday on a non-owner occupied conventional mortgage, 30 year fixed.