Because, for instance, if I am flipping a couple of properties and I am in the middle of the rehab, but it will take a couple of months for them to get finished and sold, I may be paying $4000 on hard money debt payments per month, and if that debt is included in whether or not I will qualify for a refinance, then I may not qualify.

Feel free to take or leave my advice, but I think others will agree that, for now, you should focus on maximizing your savings rate, building your credit, paying off any owed debt, and house hack your first deal—just my two cents.

It is a small town, definitely a tertiary market right now, but that is where opportunity is going to be found.I think LTR, in the right location, can provide enough revenue annually to cover all holding and leverage costs while the resident pays down the principle and the demand in the city sustains slow and steady appreciation. 

I don't really want to go looking for the financing to pay him his balloon payment.

You also need to consider that at a lower percentage of money down you will be paying a Mortgage Insurance Premium or MIP. 

. - Minimum work history: 1 year (please provide references and pay stubs for the past 3 months; if self-employed we can discuss alternatives to paystubs)

You let it slide, waive the late fee, and she pays by the 10th.

I don't believe in marriage so I ain't paying no engagement fee.

Each former member is then free to either do a 1031 on their % interest or take the cash and pay the tax.The opposite manuever was more common until around 15 years ago. 

Mainly the panel is in the basement and it would require a ton of work and paying for labor hours + repairs.