Extra 4 months of carrying costs are up most of the margin.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

If the only MFH options you're finding are in areas you're not comfortable with, it might be worth focusing on a duplex in a better neighborhood.Saving up for a larger property later is a valid approach too, but keep in mind that real estate tends to appreciate over time, and waiting might make it harder to enter the market later.

Someone contacted me about setting up a Wyoming Trust and said I was ask risk...."

My primary residence is a condo where there are only 5 units and we all make up our HOA.

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.

You would have had to be there for at least that to save on the capital gains taxes (up to 250k). 

Get in front of tired landlords, who may offer you a hand up.  

Reach out if you need any help setting it up!

What area are you in, have you locked up any properties yet?