Its been my experience that financial institutions will refi on the purchase price with less than a year of ownership, but refi on the value of the property after 12 months.

I discovered BiggerPockets a couple weeks back while researching the topics of real estate investing, I found a couple interesting posts but didn't think more of it at first.

@Daria B.Well if things don't line up or if it is discovered that items (like rental applications) are missing then I suppose you have a few options:Require that the seller get their stuff together and get the items prior to COE, potentially delaying the close date, or backing up deadlinesNegotiate on price and deal with the potential issues as the buyerTerminate the agreement and pursue another property

A year and a half ago, I walked into a dealership with $10,000 to purchase a car. however , when I discovered that I could get said car for 2.49% interest rate per annum, it was a no brainier to finance the car and leverage the said $10,000 into a purchasing real estate investment...

If you didn't, maybe you'll come clean and post what you discovered. 

And thru there, I discovered Real Estate and all the opportunity that it could offer.

You might find it challenging to get any type of institutional loan due to property condition.  

These - as long as they are provided via SIPC/FINRA licensed institutions and advisers - can be a good means to finance investment real estate.

We called the bank together and he discovered the assumer would have to use the house as a primary residence.  

Another thing to consider, and someone correct me if I'm wrong, but the ability to refinance the acquired home in to a conventional loan with a financial institution will also depend on your debt to income ratio.