I’ve considered doing a cash out refi to finish the home, add my name to the mortgage, and use the remaining to purchase another home.

It’s a 2 bed 1 bath will need to sell at 96k. that’s including what I’d need to pay the remaining amount of mortgage closing cost and realtor but I have no idea how any of that works looking up anything on realtor related thing just takes me on a big advertisement adventure 

The price has remained the same.

The single 3/1 single family homes in the area remains low at around 3-40k, while this duplex is asking for 130k.

Read your Sec 8 agreement, they are not leasing the property, the tenant does, they agreed to send the voucher amounts to you so long as the tenant remains and in good standing with the HUD requirements.

What is remaining is left outside for 24 hours.

After the two years you would A) hopefully have the money saved up to cover the remaining 10% down payment when you put conventional financing on the property or B) the preferred option is to increase the value of the property so when you put conventional financing on the property the increased value of the property covers the remaining 10% down that's due or even better the increased value may be great enough that it covers the entire 20% down, theoretically meaning a net purchase of little to none of your own money. 

Not the answer most want to hear but until we have the next market correction, competition will remain the same. 

I am interested because of the potential for adding additional pads on the remaining 5 acres.

The Federal Reserve’s Federal Open Market Committee raised the target federal funds rate to 0.75 to 1.00 percent on Wednesday; federal rate hikes typically influence private lenders to raise consumer rates including mortgage rates.In a post-meeting statement, Fed officials said that the federal funds rate remains accommodative and will continue to sustain economic growth and the Fed’s goal for a long-run inflation rate of 2.00 percent.