Going from flipping full time into looking for rentals is a big change but I’m very excited exploring this side of real estate.

To start, my predominant interest is house hacking, but moving forward from that I would like to explore flipping and landlording from afar.

Do you think you’ll continue buying turnkey, or explore value-add/BRRRR in the future?

If it's passive then potentially investing as LP maybe a strategy you and your wife may want to explore.

@Joshua Costa it’s not clear what your question is, but I’m assuming you’re asking if there’s a way to buy another property with FHA sooner, despite what your mortgage guy said.Since it’s a Federal program (FHA), the fact that it’s in R.I. doesn’t affect anything.I think you could/should ask the question of another mortgage person but I’d be prepared for the answer to be the same.I also always recommend building relationships with local banks and credit unions who hold onto their loans (portfolio lenders), like Pawtucket Credit Union, Navigant, Washington Trust, Coastway (now Harbor One) etc.Often down payment requirements are a little higher, but not always, and you get a lot more variation/flexibility because they set their own terms for the loans - they’re not reselling them on the secondary market so the loans don’t have to fit into a rigid box (be “conforming” in mortgage-speak).I think it’s worth exploring, especially to start building long term banking relationships which will help when you buy more properties, but you may still find FHA is the best deal - it’s hard to compete with the Federal government :)I did a little research and it seems you’re mortgage person might be right, but I still think you will learn a lot from checking with another source and especially meeting local lenders.

Just had a specialist come out and recommend that we remove the old stone chimney entirely, exploring additional options, but may potentially need to design and build a new wall.

@Tim Swierczek would be a great resource for exploring home equity options and running those numbers. 

Is there any advice on more effective methods of accomplishing my goal of purchasing a quadplex as described above I have not explored?

Model homes as rentalsI'm thinking about exploring this does anyone have any knowledgde or experance in this 

Not to get off topic; my ultimate goal is to work on building my portfolio of multifamily and other commercial properties (to gain enough passive income to allow me to focus on this as a career) and I'm currently exploring different jobs within Real Estate that will help me network with the right people and gain insights I might not otherwise working my current job.