my goal is to keep it as simple and low cost as possible.   

Because you've built that equity, but you also have the ability to adjust how much of that equity you keep in the property when you transition out of the construction loan into a more permanent loan to produce more cash flow.#3: Are you going to self-manage or hire it out?

I would still encourage you to keep your debt level low even when using a cash out refinance.

I want to buy it as a rental property keep it for a few years then sell it.

After 1 investment property it's easy to be over your personal DTI ratio and to keep going you'll likely need a small local bank that looks at the debt service coverage and the risk.  

If we can keep that equity in that home we will which leads me to my question.My questions is can I House hack another home in the area?

Keep learning and changing, as this is very important in the always moving real estate area.

Regarding the location, I could definitely see keeping it a while and it’s only a few minutes from where my wife and I live now which is a comfortable area.

I've run into owners of airbnb's keeping the heat/AC at 80 and refusing to change it remotely. 

The goal would be to capture that interest rate and keep it for the next 25 years so that I can cash flow well, if I move again and rent it out.