I have the opportunity to buy a property with owner financing and 20% down.How quickly after a purchase could I refinance out of that Owner Financing to a traditional mortgage?

—upending a traditional pattern of Americans buying starter homes and moving up

Or put down a traditional 20% down payment and finance the remainder?

However I do plan on living in the property temporarily so if I use traditional financing I can get into the property for as little as 3% down ($2400 compared to $40,000) with the current interest rates at around 4.75% for 30 years.

The more information is that the 7 year ARM can get rates as low as traditional financing (almost) and won't require reserve funds for other loans.

However, even though I have $50k to invest right now, I would prefer to go the traditional lending route for the first few which would require another FT job. 

I've done flips and traditional rentals, but just starting to dip my toe in the water of STRI have a traditional retail in the Hutto/Round Rock area that I'm thinking about turning into an AirBnB.

Within the last month, we closed on a traditional 30 year fixed mortgage based on W2 income on a property in TX (we actually lived in a different state).

I can’t imagine a traditional lender allowing you to change the holder from you to an LLC.

A portfolio lender with their own money can do whatever they want but you'll pay more for it. 7% is high, but if you hold that long enough you could then rate and term with more traditional financing later.