We have also had, historically, a 5%-ish difference in rent rates when renting out in December and January as opposed to other months.

They want to send me to the commercial loan department where the rates are awful, closing costs are high, and the requirements much more robust.What if I just get a second-home construction to permanent loan, wait 12-16 months for it to be built, spend another 90-120 days furnishing it, and then refinance into a traditional 30 year fixed as an investment property?

Just looking simply at rates may trap you in a way..

Others may disagree, but I would highly recommend paying off all of our debt and increasing your savings rate before investing. 

He is looking for $290,000 but realistic offer price with the current interest rate and other expenses is closer to $260,000. 

Do you understand PE ratio or CAP rate?  

Also, remember that interest rates are also negotiable, and the seller gets all the money from the interest. 

If you think of an old school investment club where members get together every month to discuss and vet stock investments and then invest together, it's like that, but instead of stocks we focus on passive real estate investments. 

Plus the pass rates are lower for the CPA exams in a large majority of states compared to the BAR.

(Quoted about 8.5% rate on a DSCR loan, and budgeting 10% of rents for capex, 9% for PM, and 5% each for vacancy and maintenance) After-rehab rents would be about 1350-1500 based on comps.