The value of the home is worth a little more than that as given its poor upkeep over the years its value receded somewhat.

The house currently in question, the manager said he had an older couple apply, but they were on fixed income and wanted to sign a two or three year lease so they knew they wouldn't have to move or incur additional expenses.

For a first deal it felt safer than a single family rental due to the fact that while possible, the chances of all units being vacant at the same time is much less than a single family being vacant.

Turns out, heloc underwriters are trained to use the Schedule E as one of their main sources of information, more so than any leases or receipts you might include as part of your application.  

Generally if you are looking at a rate-term refinance (i.e. less than $2000 cash-out or just refinancing into a long-term lower-rate loan but same loan amount) then you should be fine - if looking to cash-out on the refi - generally will need to wait six months of seasoning however there are a few lenders that will do cash-outs at the 3 month seasoning mark

Most of us are worse than we think!

Had one flooring store recommend glue down, they said this is better than 20mil 5mm snap in LVP flooring, as the snap ins sometime break and you can easily replace a glue down.Another flooring store recommended "loose lay flooring" basically that is similar glue down, but has sticky material on each board. 

Does it make sense to offer an additional bonus (let's say 5K) if they are able to negotiate for $1.1MM on top of the usual 2.5% - 3%?

For less than the cost of ONE lead, you can get a high-converting website going and get your own leads.

Hey @Max Kulishov, it's not a bad idea - I've done remodels on almost every place I've lived in, and the cool thing is you get to enjoy the renovations, you might have to do some minor repairs prior to moving out but nothing like doing a huge remodel + you can slowly renovate at your own pace rather than having to invest large amounts of money at once.