HML's will want a first lien position, so if you have financing in place already you need to look at a refi that gives you the extra capital you need to pay for the rehab while replacing the original loan. 

@Sam Horton Thank you for the feedback, I am planning on using my VA loan, I am blessed to receive extra benefits from the armed forces, will I need an LLC or do continue without, should I acquire a real state license or not?

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Then if you go the extra step and Airbnb your space while you are gone, you would definitely be able to live for free (and comfortably) and possibly pull in some cashflow. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I always hire my own inspector, and get a walkthrough video of the house from them (something not many people bother to ask for but it's really easy for them to do and doesn't cost any extra).

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

As for the rates, we are already at 2.7% and hoping to get it a little lower so we can use the extra income as a buffer if anything goes wrong.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

When determining a buy down, most investors do what you already did; they determine how long to recoup the extra money down.If it's less than 36 months and the investment is a long term play, that's good.