Both rented and positive cash flow.Subject Property:  Traditional detached SF property in NJPurchase amt 410k10% down (don't have funds to do 20% unfortunately)While I am confident in my mtge guy, for prudent measure I wanted to check w/ the BP community to confirm the following..Freddie:  'My income is too high' (Can certainly give figures, but not sure how to break it down.. 2017 salary + bonus; Rental income, 2018 salary formally approved and documented, but not effective until July; and 2018 bonus (which I have received already)FNMA:  'To get a second FNMA mtge, I need to put down 20%' (which I would like to do, but cannot come up with an extra 41k)FHA:  'My only option' (with the 1.75% upfront PMI and monthly PMI for life of the loan). 

How do I formally end the lease?

@Bill Baldwin You may want to file a formal complaint with the state licensing board as well as the board of realtors in the area.

I have never responded to a formal RFP before so this is all new to me.

Being GCs ourselves, when we go to check out a property we know everything there is to know in 30-60 mins on site, so no need for a formal inspection.And it helps big time.When we sell B-C, the ONLY offers I will even entertain inspections on are retail MLS sales. 

From the seller, definitely get history, insurance, tax info, any planned special assessments, major repairs, any warranties (foundation, waterproofing, roofing, etc), a copy of all leases to review as part of a formal accepted offer, etc. 

I have an overall decent idea in my head, but I have not formally written it down.

Is your first concern that the doors are large and formal, and that the rooms have large windows?

He'd need to go through a formal eviction process.

One question that comes to mind --- did this property ever go through a judicial sale (whether a foreclosure or a tax sale)?