If you're looking to get into STRs, you need @Avery Carl's book, Short Term Rental, Long Term Wealth, published by BP. 

Is there a pre existing loan with that bank with either of you?

Another possibility I looked into is simply leave the current SFH as is since we have long term tenant, but build ADUs on the lot.

The sale of our home will provide us with approximately $150,000 to allocate toward investments.At this stage, we feel most comfortable focusing on long-term rentals.

. - Flexible terms tailored to the specific deal. - Ability to leverage their network and experience in real estate. - Private lenders are not just sources of capital but can also be strategic partners who bring value to the table. 3.

I mean, don't get me wrong, we have to comp the property...so if you are looking to REHAB the property and make it something different, then you need a rehab loan first and then refinance after type of thing. 

She can move to a short term rental at the start of Feb until she finds a place. 

Looking to invest in long term hold multifamily.

If you are looking to buy in PA, its possible you can qualify for PHA KFIT program that gives you a 5% closing cost forgivable loan.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?