Or you could take the max ltv and put it into another property and play the arbitrage game. 

Rather than prior liens I would shift my focus to research on how the issue of notice (or lack thereof) plays out in this scenario.

This would be the ideal time.  

Sellers like to play games and only show their good records upfront and then when buyer keeps requesting more and more info the seller delays and then tries to drop on them with 1 week to a few days left in due diligence.

i would move on. you are there to meet your goal. if your realtor is not helping you then he is in the way of your goal. get rid of him and find someone that will play by your rule. bottom line. it's just business.good luck

When there are bad actors in the marketplace, people need government to level the playing field. 

Why are you differentiating "starting out"... as if it makes any difference...which it doesn't.Have you ever played poker? 

One option that comes to mind is finding a 6 unit property (ideally one of those buildings that is actually 2 triple-deckers w/ basements with a combined stairwell).

All will play a key factor in help us come to an ultimate decision.

Any remaining gain would be taxed as long term capital gains.But if you bought it intending to sell than depreciation doesn't come into play.