If your DTI won't support conventional financing, see if you can get commercial financing since you already did the rehab and got a tenant.

@Manon Sheiman here are your answers:For conventional, conforming loans (Fannie/Freddie loans) the rule is 6 months to receive cash out. 

This house can be conventionally financed as well.  

By the way, I live in MD and the market here offers low inventory and is very competitive.Thank you!

You can get a conventional mortgage if the unit is 4 or less.

Speak to a few conventional banks and see what they will do for you given your new financial and work situation.

We are having a really hard time getting a conventional mortgage though because we are self employed and started our company (Chip Cookies if any of ya'll have heard of it) only a year and a half ago (everyone seems to require 2 years of tax returns for self-employment).

Here are the numbers ran at $150,00 which is what her counter offer is and with a interest rate of 5.5% on a conventional 30 year loan.  

There is very low inventory for decent multi-family property.

The two things required for that are 1) enough distressed inventory to sustain it and 2) price ability that allows for positive cash flow on the properties.