I plan on talking to some local banks and lenders to see how viable a refinance will be after the rental property seasoning period with my families current financial situation.Check and Re-check the numbers on the deal analysis.  

First-time buyers, seasoned investors, international money - lots of demand from all angles. 

I can refi after next tax season when I have 2 years of rental income to report.

@Alejandro FloresYou should really consider seeking legal counsel or partner with a seasoned investor.

It has been a big learning experience this year for me in the ebb and flow of the rental market through the seasons, even in Seattle with such low overall vacancy. 

Yeah Kendra a multi-unit building in the Englewood area would be a tall task for even a seasoned local investor.

Now for some backstory; starting 4/1/17, I will be renting a room via craigslist in Morristown, NJ which is on a MTM basis, just recently I sold a large percentage of my co-owned valet company, and with the tax season, I am looking to use this cash to buy. 

After over a decade of shuffling through liceneced general contracters it occurred to me having a full time crew could save a ton. When you sub things out it moves fast but it costs way more. Calculated the last 800k ...

@Holli HarrisonI highly recommend you partner with a seasoned pro until you get some deals under your belt and learn about contracts, contract law, title, survey, liens, etc.  

Holding costs = $199,950)  Holding costs will be Hard Money Loan payment times Rehab and seasoning period (6 months??).