What I am seeing is the absolute bare minimum is a year before the market stabilizes. 

Here is the finished product on Zillow https://www.zillow.com/homedet...The New Western agent reported during our review “Even though Femi was successful, I suggested on at least one occasion that he reconsider if investing in distressed properties is right for him due to his personality type.”Notably, Femi wasn’t the only party performing due diligence on the property.

A lead is a person that expressed explicit interest in acquiring your product or service.When a prospect fills in your form of their own accord, THAT is a lead.So before I answer, what do you call a "warm" lead?

If you want to refi into a 30-year fully amortized product, you could be low to mid 7s depending on credit with a 2-3 year PPP.

It's really only relied upon in new construction and even then I would place more value on a discounted cash flow with assumptions for time to stabilize to market occupancy.

Point I am making:  My contractor is BETTER THAN ME at contracting and picking the right products for him to use.

Prioritize your financial stability.

I assumed incorrectly as it's been made clear buyers here want a fully finished product to just move into. 

After the property is stabilized, we refinance out to either back to community or Fannie/Freddie.My goal is to not pay off the loan, I would rather cash flow.

I assume you are referring to 3.5% and 5% down,Well the 96.5% LTV FHA Product is great, it typically offers more competitive rates than the 95% LTV Conventional product.However there are stricter requirements on the property for an FHA product.Speak with a broker who knows what they are doing and they will point you in the right direction.Neither of these products will qualify for 5+ Units however, stick to 1-4 units.