Have you tested this before rolling it out?

I'm planning on putting 20% down and rolling closing costs into the loan (82k~ total financed).

I've found promising leads with SECU, and also looked into Coastal Credit Union, but I wonder if there are if there are other local portfolio lenders offering short loan seasoning periods (<6 months), or who are even potentially able to roll the rehab into the loan? 

I also have a bit of money from other investments that I am looking to roll into a second multi-family property.  

Your "quick" test underwriting isn't too far off the mark.

That is a marketing campaign I could get rolling in just 3-6 months,  targeting 4-5 counties around me, hopefully taking in 2-3 deals a month, flipping the lower level deals and keeping the best as rentals (or owner financed) to take advantage of owner finance. 

It comes time to cash-out refi and the lender wants to see rent roll numbers. 

I have not gotten plans drawn up yet as the soil test was just done.

The values have already skyrocketed in the areas immediately surrounding downtown, and as the city rolls out the east side promise zone, those areas are expected to gentrify and appreciate much more as well.

The education necessary to pass the test is invaluable even if you decide not to get a license, you will learn a lot that will help in your investing career