I am a fairly new homeowner (less than 2 years) and haven't began my investment property journey yet. 

I'm originally from BR and am fairly active there. we see a lot of inventory so also happy to chat offline about this

No one has that answer, but I'm fairly certain that nearly everyone would agree it's longer than a year, and it seems that's all this capital call gets you.Next, consider why the lender is willing to make this extension. 

It happens, a fair bit.

Much of this is due to the fairly low actual prop tax (rate actually paid) and that there are so many income brackets (many people pay no state income tax). 

We are contractors with different expertise and want to figure out a way that is fair both to get compensated.

@Robert Quiroz, I know this is fairly well covered at this point, but I align with Robert...  

Personally, if your market tends toward the former condition (better/normal appreciation) I think it's a fairly safe deal looking at the long term, assuming infrastructure around you continues to support the idea of renting it.

A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.

Quote from @Richard Kim: I'm a fairly new small time out of state investor who owns a couple multi-family properties in Cleveland.