You won't need to refinance because you've already got a long term mortgage, but if rates come down significantly you'll want to refi to reduce the monthly payment.

At least here in Colorado, we have a few examples of cities -- Colorado Springs and Littleton, just outside of Denver -- that had active laws permitting non-owner-occupied STRs and then changed course and prohibited them, but in both cases, those cities grandfathered in existing permitted Airbnbs. 

Unless you can purchase the first home as primary and show you will be buying the next FHA home closer to work, or out of state.There is also something called a "Gift of Equity" where you do not have to assume the loan you can use gifted equity for a down payment and closing costs.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Fannie Mae does have a loophole (taken directly from the Fannie Mae Selling Guide:"In order for non-mortgage and mortgage debt to be excluded from the debt-to-income (DTI) ratio, the other party has to pay the complete monthly obligation every month for a minimum of 12 months (and the other party cannot be an interested party for non-mortgage debt).

IM USING HARD MONEY SO THOSE MONTHLY INTREST ONLY PAYMENTS ARE KILLING ME ASWELL 

Keep in mind that the $625,000 pulled out is non-taxable because it technically a lone and actually has tax benefits.

Citi Bank just came out with a low down payment, no PMI option for certain neighborhoods.

My current property manager doesn't instead sending a monthly ledger with the month's payments (company name, pay date, amount) as well as monthly income/expense statement.

I figure if I went with the unsecure loan I can purchase under that minimum loan amount that the HML requires (preserving my 30k in capital vs using it as a down payment).