It's not unusual for one good person to apply, and they move in their half brother that just got out of prison or something.There's a lot more to look at than just income. 

Is it wise to borrow from the equity to make any necessary repairs, or should I delay the rental process until I acquire enough savings in 12+ months?   

My PITI payment is about $1400.  

Build out time is normal six months to a year.

@Lucas Schlund not seeing oversaturation in Metro Detroit, but there is some up in the Traverse City area - which implemented STR controls.Yes, it's always a good idea to buy an STR property that you can at least break-even if you have to turn into an LTR. 

. - After purchasing a home for what I feel was to much I am trying to determine the best route.

They wanted to do that but it would mean it wouldn't clear for up to 21 days.

I had to Google it.

Quote from @Ariel Rivas: I don't know your market specifically, but it's typically cheaper to purchase those items at Home Depot or Lowe's.

We're in FW, TX, and building duplexes to hold and rent.