So here is my question, do we build, which will cost about $600k, with the idea that we could get $5k per month from the downstairs, and another $25k per year by renting out our main living area while we are away, about 6 weeks per year? 

Pre-approvals for loan should not take 30 days, they shouldn't take a week, heck in most cases it shouldn't take more than 1-2 days.

To get an idea of my goals which may have an effect I'd like to close on 2 more multi-families within the next six months.

I am feeling a bit excited, and a bit overwhelmed, as we just closed on our first property this week!    

They’re losing more and more rights every year.If they plan to use the property less than 2 weeks per year there are condo-tels. 

Anyway I’m 2 weeks into this deal and expect all the demo, repairs and paint to be wrapped up in the next couple of weeks and I’ll begin furnishing all the units with new stuff.

If you just started your business 6 months ago and claim to be able to produce a six-figure income, the bank is going to question your ability to sustain that income - I know I would.Sometimes it can be funny.

I'm 24, I work a pretty decent job that allows me to save a bit each week after paying my bills.

However, he refused the offer and is now threatening to take legal action if he doesn't get the security deposit in a week. 

-- I start with $5,000 and spend a few weeks looking for note brokers.-- Invest into a $5k note yielding 15% per year, or about $750 per year, $60 per month.-- Look for opportunities to recapitalize, either by raising private money (unlikely this early on) or "collateral assignment" loans to borrow at, maybe 7.5% while re-lending at 15%.-- I keep doing this until I go from $60 a month to $830 a month, which would take 28 investments assuming they were all $5k notes yielding net 7.5%.