Then when you go to refi, you can show actual operating income under your management/ownership.I hope this helped in some way.

I believe that I am withholding more then will actually be needed strictly for w-2 income.

@David Whitehair I would go talk to seller first to gather more information, see how motivated they are to actually do something.

@Heath Ryans That is actually what I was looking for, thanks a bunch.

I actually wasn't accurate enough in my post above - it'll cashflow for us within the next year or two, it just needed lots of repairs over the last few years (bought as a fixer-upper, built in late 1800's).   

@Todd Dexheimer   It's actually supposed to be 'dear husband'....lol.  

I guess I am going to try and stay away from anything tenant occupied, at least for my first deal.

I guess I have a multi-faceted question... where do I find the listings that are more than 10-15+ units?

I’m actually trying to purchase as many units over the next 5 years as possible!

But I just want to make sure what I think I know is actually correct.