After putting the numbers in the rental calculator, it cashflows +216 a month. 

If you don't already qualify, the answer may be you need to save a larger down payment, look for a cheaper property, or wait a few more months to build longer credit history.Good luck and don't forget to save a beefy emergency fund!

Other people in the lending space might have better answers, but some lenders quote taxes, insurance, etc. to fully understand the monthly cash burden and ensure you know it as well.

That's how many months its going to take you just to break even and for it to START being a good decision to refi. 

If you hired a builder who only build one or two houses a year, aren't that proficient at it, may have high contingencies built in so the builder still makes money if things didn't go as planned, or a proficient builder who builds 10 houses a month should have very small contingencies. 

They are offering two months of rent as compensation (around a total of $3 for me).   

Hello Suzanne,Check out United Properties: https://www.rentupm.com/*In-house Leasing*In-house Maintenance: including before/after pics*Leasing Guarantee - if a tenant we place vacates or is evicted within the lease term (12 months) we will place another for free.

The tenants informed me that they are looking for a home to purchase and would like to extend the lease until September and then month-to-month until they find something.

Think: the renter pays all of your bills and gives you a few hundred dollars every month. 

She was told by our local power company, PPL, that our meter base needed to be upgraded, THEN they could put her meter in (there was no meter in her unit because the previous tenant moved and it has been unoccupied for a few months).