My thoughts are that there should be ways to make the period without stairs shorter, for example, pre-assemble as much as possible and hire a dedicated team.

Check on the project periodically.

On another note, you do realize any house left unattended for lengthy periods will expose you to a multitude of problems, for example:Mold, rodents, insect infestation is almost certainCarpetbaggers, homeless, and or drug addicts may become a problem that could ultimately be your responsibilityWhat is the city ordinance?

@Jason Hutcheson, There is no statutory holding period other than your intent. 

My gross income is $137,000 +periodic varying bonuses. 

Now that we've forced appreciation, following a seasoning period to simply have the management stabilized and see what the general flow of business is like, we'll look to refinance and pull our cash back out. 

If I were you I would capitalize on this period in which you don't have income.

Pay periods are sometimes non standard.

There's a 30 days wait period after you sign up before coverage takes effect.

Tight loan approval periods: Many lenders set a standard for 21-25 days to get your final loan approval approved by the underwriter.