It sounds like a great rental, however, you know it better than anyone on here. 

This sounds like your situation, Brody.It may be easier and more convenient to find one lender that provides both the purchase and rehab funds but don’t feel that your hands are tied.

It sounds like you have done this before and have a good plan in place.

NSPIRE inspections will more accurately reflect the true physical conditions of properties and ensure that property owners adopt sound maintenance practices to eliminate health and safety hazards that may pose a threat to residents.

My initial thought is to invest this into the stock market (Amazon, Tesla, Google, etc...) and keep doing that for the next two distributions as well, ultimately pulling it all back out, plus the earnings (hopefully) in 3 years time to purchase a house.Based on the plethora of experience in these forums, does the above sound like a good plan? 

I am sorry @jasmine.Andrew Kai sounds gray; if it is easy like he mentioned, EVERYBODY will do it

Sounds like you’re on a good track, just need to keep plugging along.2) usually you can’t just “roll” other debt into a mortgage without doing a refinance.

Thank you for your feedback & regarding the lease sounds good ! 

I'm looking to reduce the sound between two levels of a townhome, as I rent them separately, but they were built with standard drywall on the ceiling.

It sounds like a challenging situation, and handling it requires balancing the tenant's rights with your obligations as a landlord.