double check your outlay of costs on arbitrage. you may not be paying to buy a property, but you will have to furnish it, carry insurance, and pay the owner their money too. and at the end of the day, the owner can stop your "business" and take it off the market or sell it at any time. 

You will benefit from better rates and lower cost lumber now, so that will help make up for some of the added carry and perhaps the market conditions have even improved? 

I've also seen houses there in prime locations that have been for sales for years and didn't sell for one reason or another, so building a spec house would also carry it's own risk. 

The 4 unit I am buying the seller wants to move to Florida SUPER bad and is carrying back a 2nd mortgage for me.  

A HELOC can be flexible, but ensure you have solid cash flow to cover repayments. 401K loans carry risks like penalties if not repaid on time.5.

So hard money loan in my name, down payment and carrying costs covered by her but we still need to meet to hash out the details.

I'm carrying!!!

Which profits can than be utilized to carry forward into the then "good" MFH acquisition timing of things. 

Unless you are feeding the cats it is just the way nature is, other outdoor animals like squirells can carry fleas too.

Some states are communal states, so you just have to make sure if the debt carries to your spouse as well.