This business , and If the seller or a lender is having any negative impressions that will effect how the deal goes . 

So you are on short term trial basis with them all.With option #2, clearly communicate "new landlord, new rules".

SO the effective date of reaching the 78% LTV (where you need to get to using market appreciation and principal reduction) will likely be a lot sooner than 6.5 years using principle reduction only. 

and the effect that has on the cash flow of the property.   

So you can do one of three things:(1) prepare a mock 1040 as you normally would as this will give you a high level of accuracy if prepared correctly;(2) review your previous returns and determine your effective tax rate, then apply that rate to this years earnings; (3) have a CPA do it.I get this request all the time so I've built a template for myself that allows me to quickly estimate a client's tax liability.

I also highly don't think that refinancing into a VA would be effective.

Once you do that then I believe you can fully dive it to a plan on how to execute effectively within that realm.Happy Investing...

. $495 x 6 x 12 = $35,640 gross income. subtract 5% vacancy and your effective income is $33,858.

If you want the quick formula for your SFR:PGI (potential gross income)-VCL (vacancy and credit losses)+OI (other income--laundromat, cable etc)=EGI (effective gross income)-OE (operating expenses)=NOI (net operating income)If you get financing, you do not factor that into this equation.

Being apart of every aspect of your deals not having to call your real estate agent every time you want to communicate anything is awesome.