His original ease is June 2021, but has been on a month to month, with an increase on Oct 1 from $3300 to $3600.   

Congrats on doing your second investment - that's how you know you are an investor - the first one didn't scare you off! 

Low salary, low on funds, low on knowledge.

@Arron Paulino you can find some great information online (youtube) from Pace Morby on this subject. 

I have been under contract since 10/10 on a quadplex in Wisconsin.

Why not do a cash out refinance on one of these deals?

You're essentially buying into a partnership with your friend with the partnership owning and operating the property.Now, the financial side of that gets more complicated and would generally include an advanced proforma/financial model that includes a GP/LP equity waterfall schedule that is based on how you and your friend agree that you will pay her and also share the profits.I assume that won't make sense to you right now, but I'll send you a DM.

You will be able to take advantage of it in a SDIRA if the syndication also has taken on debt and therefore passes UDFI on to your account. 

I plan on holding this home long term due to the low interest rate (2.75%) and renting it out long term to cash flow and build equity simulataneously.

My spouse and I purchased a home in Nov 2023 (that we will move into in about 1.5 years), that has an additional 2 bedroom apartment and 1 bedroom studio on the property.