Aim for a path that benefits the current tenants if it's worth it.

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.

Currently, I’m in full research and networking mode—learning, looking to connect with local investors, and exploring my first investment.

Where are you currently at in the process?

I currently own 30 units and we do about $15M a year.

I have a little but Indiana is the market I'm currently researching .

Planning on renting the current residence home to group home in Minnesota as we move into a new home.

We gave the current tenants a notice that we need them the evacuate in 30 days.

Purchase price: $110,000 Cash invested: $45,000 Recently purchased my first house to use as a primary residence, currently I am renovating the kitchen and adding a full bathroom to the first floor.

Curious to know if anyone else does the model this current day. 2019 was a different ballgame than todays market for sure and I think the model can work but it's very few and far between where the numbers will make sense in todays market.