I believe that the buy and bail rule is a good thing for sure. However I do not know the specifics of it. HLS for sure would be the best resource to ask on this but I have not seen him post for awhile. Off the cuff I want to say the answer is yes to both of your scenarios “but” if John or Mike could come up with documented lease agreements it is unclear to me whether or not they could apply some or all of the rental income to the qualification process…
Sorry for the lame answer but I not an expert on this bill yet so I don’t want to give false information.
