Floor plans?

When I look at the property and the information what I am noticing is the "game plan" is as follows:1.

Since you are planning to use a lot of cash anyway, you may be able to leverage an FHA loan and put down just 3.5 percent on a duplex, triplex, or fourplex, as long as you live in one of the units.The advantage of this strategy is that the rental income from the other units gets added to your income, which means you could qualify for a larger loan and end up with a bigger, income-producing asset.

You should have a ton of demand for co-living in that area, particularly if you're on a busline.If you plan to sell anytime in the near future - I'd advise against putting a tenant in there well under market on a long term lease.

A refi makes more sense if you plan to hold the property long-term as a rental.

You can’t win the the present value game unless your plan is the absolute best investment plan, AND an owner occupant or neighbor doesn’t want it. 

Plan is to purchase a couple homes over the next year.

With careful planning and consistent effort, you can create a portfolio that aligns with your long-term goals.Good luck!

A quick check for your max loan payment a lender will allow is to divide your rent/1.1 that number is around what the max loan payment will be by the lender.All very good points,Yes was just using 15 year as an example but yes we will definitely be doing the 30 year to make the monthly payments smaller.We understand that from being homeowners.With the seasoning period that is a very good thing to keep in mind.It proves a point that buying a property in all cash might be more safe and beneficial for us then using a hard money loan as during that waiting period it would nice to not be charged fees and interest on a hard money loan.Correct we plan to rehab.Now do some investors buy the house in cash and then use a hard money loan for the rehab portion? 

We had a plan to build a large real estate portfolio and then sell it in five years and divide the money.