2 years LL experience to count rental income
I have a few questions here:
1) if I have 2 year's tax returns with rental income reported but have not had the rental property for 2 years (say 1.2 years), will lenders still consider the income? I do/will have a signed lease agreement.
2) If my plan is to convert my primary to a rental and I have the 2 year's tax returns showing LL experience (from a currently owned rental), will the bank let me use projected rents for my current residence (to be converted)?
3) If number 2 is not acceptable, if I rent a place for myself so I can lease out my current house, how long will I need to wait to get that rental income considered from a lender (considering I will have 2 years tax returns showing LL experience)?