Please provide a forwarding address prior to moving out, and be sure to cancel/transfer any utilities out of your name by the move out date.

Well, do they have a job to pay that extra $200 plus utilities per month?  

Pay to separately meter the utility.

After getting a good amount of equity in the house for future HELOC funding, I was going to move out of it and use the property as a rental utilizing a lease option, or, rent to own agreement. 

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.

Unique features like land and outdoor amenities can add value, and utilities can increase rent.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

@Kenneth Willis I can probably help.How many lots, what is the lot rent, how many are occupied, what is the source of utilities and who pays the utilities?

And FYI- if you're going to utilize an Engineer, they may not be comfortable being responsible for the entire house.

Hey John,Sounds like the answer would be to utilize a DSCR lender that utilizes either pre-established STR rental income (if you can prove with AirBNB/VRBO statements) or a few that are still UW with AirDNA or a similar STR income projection program.I am aware of a few still doing it at this time, and if you can show that you know what you are doing you shouldn't see much of a cut in LTV if at all.Happy to connect and see if we can help.Good luck!