The banks/credit unions said I needed 6 to 12 months of ownership to get refied. 

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.

I put a new build under contract early this month, and are now working on the loan with a credit union.

I'm new as well congratulations on you're first property me and my fiance was going to start a real estate business but she has cold feet so i already have a LLC she the one who has the 820 credit score and I'm getting mine back in order we both have one property each i just loss my contract for my business so I'm thinking about using the equity from my home or turn my home it a bordering house just need some mentoring 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score.

For me, I am a little hesitant because I would be in a situation where I would be trying to secure traditional lending (which should be very feasible given credit scores & what $$ amount I am pre-approved up to from my banks), meaning that I assume I would be forced into using my first-time homebuyer loan incentives.

Just be sure it’s documented and consistently applied to avoid any Fair Housing pitfalls.Another option is to stick with strictly quantifiable criteria—credit score, income ratio, etc.

Moreover, "[v]olitional unwillingness, as distinguished from good faith inability, to meet contractual obligations furnishes neither a ground for cancellation of the contract nor a defense against its specific performance" (Meisels v 1295 Union Equities Corp., 306 AD2d 144, 145 [2003]).  

If you are running a LLC for your rentals is essential that you keep all business  funds in a separate account I like Credit  unions the best .