Whether it’s a company you’ve worked with before as an inspector or have used before as an investor/lender. 

Our mortgage agent suggested to buy as an investment and then refinance, but is not a good idea since we cannot take cash out (we don't have enough for the 25%).We thought of sending an offer contingent on one of the units being vacant, but the seller doesn't want to put that into written. 

Not sure what you mean when you say "wholesalers" and have an agent.

Additionally, the management companies would take around 10% of the rent for their services.Given this, I’m exploring whether it would be a smart move to refinance when interest rates drop, and possibly form an LLC to transfer the property into.

The market was increasing and we were able to find an off-market deal from some friends who held the property for over a year had no interest in fixing it up.

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I'd recommend starting with a solid market analysis to find an area with high rental demand—look at vacation spots or areas with events that draw consistent visitors.

The waterfront area downtown is beautiful for as far as the eye can see in both directions.As remote work takes hold and knowledge workers look to escape Seattle, I can definitely see it becoming an Austin-esque city in the PNW.

Tbh, if its really that critical to their argument I would just pay an appraiser for a limited scope appraisal which in my area runs about half price because they don't need to visit the property to do it. 

Right now, it's an ABNB property.