Owner-Financing a Duplex?

[Kyle Federmann]

So I've had a couple of duplexes in Cincinnati I've found through an inheritance list yellow letter campaign. 

Is it possible to owner-finance a duplex, rent it out for a year and refinance with a bank?

or

If I do owner-finance and want to refi with a bank, how long would it take typically for me to be able to refi and be accepted for a mortgage? 1-year to show I'm a "certified landlord" or could I even do somewhere around 6 months? 

The owner is trying to get $55,000 for it but the comps in the area have newly renovated duplexes for $55,000 and this property I believe- have not visited site yet, judging off of seller's descriptions- should go for somewhere around lower to mid $40k range.

It would be my first property and since I'm in college having to pay $6k/semester for school, I don't have the immediate funds to which a bank would accept me today but in 6 months I most likely will.