Some of our clients have even installed two separate electric meters on the property, which would require two separate addresses.

In regards to bedrooms, the county requires a permit and they will determine your occupancy based on the BR size (1 person for the first 70 s.f. then you can add additional person for each 50 s.f. after), parking, and parcel size.

I've heard of lenders doing 10% down but requiring you stay in it x days a year, sure.

  - There are certain requirements for the lease that vary from state to state.

Conventional refinance would require 12 month seasoning as per Fannie Mae/Freddie Mac guidelines, so you'd likely go with a DSCR refinance.

Hey Kelsey, Unfortunately, it's not that simple, since you need to consider your AGI (adjusted gross income) to get the real savings here and that requires doing your taxes quite literally from start to finish.

Maybe  DSCR 2nd if both the 1st and 2nd mortgages meet the debt service requirements. 

Even if you ask everybody to take one bill each, so as to keep things as balanced as possible, would you ask one to take over the Garbage coming out of their bank account, and another one to take the Electricity?

These could lead to leaks or blockages, requiring costly repairs or replacements down the line.

In my experience, Banks make it really difficult to obtain a mortgage and I have never been able to succeed in obtaining a loan with them for investment purposes simply because they require a certain amount of DTI ratios.