If you are using your own money to purchase the property and you can verify the source of the funds you could do what's called "delayed financing" where you basically get the refinance loan as soon as you close.

You can get a loan without working a formal job, but if you're relying on rental income it's going to be tough, and here's why.Typically when you report your rental income on schedule E to the IRS, the idea is to minimize your exposure and maximize your tax refund. 

Now after 5 homes you need to be carefull if you want to pull out cash because you'll only have 6 months to do so under delayed financing. 

@Erin Wysocki Tenants don't delay the foreclosure process, they may just have rights to remain, and pay market rent to the new owners, who bought at auction.

They might even hit you with a disbursement fee.Such loans are made in transactions where a business is purchased and inventories might be acquired along with finished goods over a time frame, they can be used to purchase several properties as well over time but usually where you know what property and the sales are delayed, often for tax reasons for the seller.

Again just enough below market where you minimize the chance of your tenant vacating but not hurt your income.

sites like Zillow and Trulia are on a significant time delay with the local MLS...

If she does qualify I don't want to have her default on the new loan and ave to go through a long FC.If anyone has a local resource for RMLO / Land Contract please send me a PM.Any other ideas o how I can make this work with minimal risk would b greatly appreciated.

I am a little concerned about that and kind of thinking I should delay a few months and aim for having it ready by early spring so I don't have something sitting for too long.  

The one clause I do add to my purchase contract is "buyer has sufficient funds to close all cash, but reserves the right to close with hard money loan assuming no cost to seller and no delay in close."