We were provided with one lease and were told the other tenant currently had no lease and was month to month.The house was under contract at the end of May. 1 Tenant left at the end of June and was replaced (without my realtor nor I knowing) and a new tenant had moved in on July 1.

My mortgage lender (not a bank) has used every property I’ve bought as income immediately following purchase when I send them the lease and proof of security deposit.

Regardless of what the lease says, I am ultimately responsible.

Before they even signed a lease we had several discussions about me living there.

It was treated a few weeks ago but her current landlord is not renewing her lease due to the pest problem and now the applicant is threatening legal action if we don't rent to her.

I would ask for a rent roll, leases and financials.

if prospective does not lease with you ---- don't share a copy of the report with him.

AdditIonally, I already assumed we’d have to have a very thorough tenant screening process but I dIdnt want It to be to the point where we couldnt get anyone under lease.

Our annual expenses including taxes & insurance are $5k, and our tenants just signed a 2 year lease at $1900/month.

Either way, in order to get REFI and potentially take cash out now, before most bank's 6 or 12 month marks,  you'll need either a tenant in place or at least a letter of intent from a future tenant with a lease agreement and start date.