You should always underwrite the asset as is and base all your financing decisions on current income and not proforma especially counting on a refi.

*Note: If a follow up call was made a voicemail left this only counted as one touch.

I have thought about buying a primary residence but I am constantly reminded that your house is not an asset but a liability.I may have two potential hard money lenders (relatives), but as I don't want to count on this my other option be to get a FHA loan with PMI.

Give nothing more than the bed/bath count & rent price over the phone, and recommend setting up a showing of the property.

@Wayne Brooks that's what I was thinking he can't but yes those are the words out of the ladies mouth and she has all of her senses they basically had her sign a waiver and told her it was it was something stating that she did have to show to court to count inventory so she basically didn't know what she was signing!

You can count 75% of the rental income from the other units towards your DTI's. 

Outside of that, they shouldn't count towards your 10 mortgage limit but doing one commercial loan per property is terribly inefficient and doesn't cover up what you're doing very well. 

If you decided to buy her out, then you would count the buyout amount as part of your basis and that would negate any deferred capital gains for you related to her portion.

The lender has both my current mortgage (as it's not under contract to be rented, since im living there) and then the future mortgage counting against me. 

But if I take out a withdrawal from the rollover investment that I have now, it may be taxed and a penalty of 10% may be applied right away I am afraid especially as it won't count as a principal residence.