You can in fact use the rents to qualify to help get a higher purchase price approved.You are smart to be cautious because it will cost you money to start the mortgage process, pay for an appraisal, inspection etc.

Just not sure whether (and what if so) there are any impacts to the mortgage/insurance company I need to be aware of, etc....

Network and connect with a realtor, trusted general contractor, mortgage officer, private money lender, banker, and attorney.

Counter argument:Paying off a house reduces risk by eliminating mortgage payments.

I don't know a lot about Toledo but generally speaking with rates having skyrocketing and prices still creeping up, it makes it very difficult to cashflow on a rental if you use debt.

A good professional can often pay for themselves by increasing your rent rates, reducing vacancies, or protecting you from bad renters.

@Sumit KaulCheck with the builder to see if they offer incentives to buy your interest rate down. 

Goal is to move mid-late 2024  Purchase June 2022: $510,500Down Payment: $102,100Interest rate: 4.875%Mortgage balance: $397,959Monthly mortgage, tax, insurance:$2,465Estimated rent $3,000 The home has an estimated sell price of $550,000 today and the area will continue to appreciate well.Home is in good shape.

At competitive market rates now and still have original tenants.

Can a private mortgage be structured to qualify as a standard mortgage, enabling the borrower to refinance it in the future?