That part is not the problem, the problem is, once we move to Washington, we won’t have jobs immediately making it very difficult to obtain an FHA loan for our first house (triplex).

With this being said, just make sure you have enough personal funds to float part of the rehab if the bank decides to not provide you the second and/or third budget payments until after the work is complete – because your contractors want to get paid.

BRRRR caught my eye, but the only part I don't really understand is the refinancing part. I

She got herself evicted over it, I got my life threatened over it (which she then had to spend months dodging service for a restraining order over), had to continually travel back to Colorado for court dates after she moved out of state and now owes over $20,000 back to me/my lawyer over it.Last I heard, she was still living in a travel trailer, having to move every 30 days because the eviction on her record is her third one and nobody will now rent to her. 

However, I first tried to see if I can find any interested party before going into all legal expenses on PPM and filings.

With so many parties involved in a real estate transaction, the waiting is the hardest part.

Go to fifth third or Chase.

Assignment contract can be done either with a WB40 or your own piece of paper so long as all parties sign.

Also, if that private party is putting up the cash should they have their name on the deed as well?

I have found success investing OOS with a full TK operation (rehabbed, 3rd party inspected, and a tenant placed with in-house management).