The Purchase price $80,000 plus Repairs $15,000 totaling $95,000, along with the $19,000 (20% down) and Loan of $76,000 totaling $95,000 lead me to believe you are using a Fannie Mae Homestyle Renovation Mortgage.  

@David Siegel Conventional loans (i.e. fannie and freddie) require 6 month seasoning because they take the lower of the purchase price or appraised value for their LTV calculations UNTIL 6 months, when the purchase price is no longer used as part of the calculation, thereby leaving only the appraisal to calculate from.Now, there are some portfolio lenders that keep their loans in house (so they don't sell them to Fannie Mae) and thereby can lend however they want.

Hi @Spencer EllingsonHere is the Fannie Mae Guideline in regards to the number of financed properties.

You can cash out without seasoning with a portfolio lender or any bank that doesn't sell their loans to Fannie Mae or Freddie Mac.  

I know Fannie Mae typically requires 90 holding period before I could flip a Fannie Mae foreclosure but what about VA?

@Wei ChoYour husbands 1099 is considered an independent contractor by fannie mae, freddie mac, or conventional loan qualifying.

The loan itself would be considered a "Jumbo" loan (meaning over $424k) which means Fannie Mae and Freddie Mac (conventional lenders) won't lend that high...so you cannot gain access to their renovation loan.  

@Ray LaiWe found the triplex on Fannie Mae Homepath.

Fannie Mae no longer requires "continuity of obligation" for rate/term refis.

You can find a commercial mortgage, non-fannie mae for a SFH.