It is situated in a B neighborhood on a cul de sac located about 1 mile away from a train station to NYC and half a mile to the main street. 

It is situated in a B neighborhood on a cul de sac located about 1 mile away from a train station to NYC and half a mile to the main street.

My main question here though is whether refinance can be done within 6 months without penalty. 

My main goal is to try and refinance them after 6 months. 

My income is $140k gross (software engineer), my wife currently stays at home with our child, but could go bring in $30k-$40k if needed.My question is if we put the $150k down (with $100k via a HELOC), rent out the back, and do some airbnb ($100-$150 in the area) with the extra rooms in the main house.   

My main question is, do property managers typically charge a higher percentage on units that have lower rents?

My main goal for next year was to move out and buy a 4 unit using my VA home loan.

The main value-adding I see going in your favor is that you don't pay yourself as much as a "normal" Property Manager charges.

This will all have to permitted by your city, along with permission from the current owner.Have you considered purchasing the entire parcel and renting the main home back to the current owner?

@Carloz Gil I like stuff that mainly just needs cosmetic improvements to add value and gain some equity afterwards.