Since I'm taking such a cash hit, I asked the sellers agent if they would be able to designate some portion of the sale price ($200k?)

I looked at the rental trend over the past 10 years, I should be fine in year 7 for the refinance unless rates are totally out of this world.Your right those rents would be really low for Stamford. 

They are designed to acquire, rehab, then get out of the loan quickly. 

Adding and making better could sell or rent faster, but it won't get you more than what the market ARV and rent is set at from other similar comps in the area....and your Interior Design background will help, if you you it mostly as an understanding of cost. 

This designation doesn’t cost extra or give the manager access to insurance payouts but ensures you and the property manager are aligned during incidents, such as tenant lawsuits or insurance claims.

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.

Also, if you form an LLC to hold the property, you will need a designated agent(attorney) in that state. 

This means understanding the neighborhoods, pricing trends, and what buyers are looking for.

I looked into the maintenance option years back to discover a trend of:  apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)

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