Quote from @Elam Fisher Jr: Anyone have experience with mid term rentals in Baltimore city?  

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

As always, read ALL the terms before you sit to close.

Getting non paying tenants out of your house in RI can be a lengthy process so you have to choose wisely. 

As an active-duty (soon transitioning) Air Force myself, I know the VA loan is a powerful asset for us.

If you're hesitant to take on a long-term loan do the 15 yr. loan in your name because you'll get a best rate.  

Hey Laura,So I can't help with the true GAP funding, but I might have some ideas on how I could help utilizing the seller financing and transitioning it to something long term. 

I am sure the interest in that hard money isn't great.All DSCR loans I have seen require at least 12 months.

You can only do this with a commercial loan.