As far as validating the rental revenue, there are a few things to consider: ideally the estoppels would be notarized; confirm the lease agreement information matches the rent roll, p&l, and bank statements (bank statement would show you how much they are actually collecting); request copies of the executed lease amendments or other written or side agreements the owner may have had with the tenant(s). 

Ideally, this home would include an unfinished basement and newer roof.

Once I build more equity I might not do this but since I’m starting out I think it’s important so I can build a better D/E ratio for future investments.

In the Midwest I think having leases end in the spring/early summer is ideal. 

For a number of reasons buying/building new property for rental properties is not ideal.

@Vance Payne - this book is very helpful - https://www.amazon.com/Every-L...AirBnb income is different than rental property income and it will be reported on a Schedule C and not a Schedule E. 

In an ideal world I would like to refinance into a conventional loan if I were able to meet the 80 LTV but the home would have to appraise at $940K in order to do so. $755K/$945K = <80 LTVAny and all help/advice is greatly appreciated!

If you are providing tax returns and the property shows up on Schedule E then the lender will see that you own the home. 

Talk the the agent with the broker present and show the broker the e-mails and tell the broker you trusted that the agent had read the form and was advising you to sign it and it was all ok, that is why you have an agent to walk you through the process. 

If you willing to relocate (and your current residence will cash flow), you can get a low money down loan on a new residence (ideally a house hack).