Not that I'd necessarily recommend this, but you could also consider paying down the loan on an accelerated rate (for example, all cashflow goes to principal until paid off), and in that way in short order you two would hold the property and open up your loan slot.  

I'm from Greenwhich, NY, (near Saratoga Springs) and i am currently deployed overseas, I am looking to purchase an income-producing 2-4 unit multifamily home, within the capital district, within the next few months (flexible timeline, will be home around October-November).

As you might know, Tesla has signaled interest in Texas over the past couple of years, but rumor now has it that they are very likely building their newest “Terafactory” in the Austin metro area to produce their new Cybertruck and Model Y.

Well, a Media Production degree, a certificate in Drafting & Design, and 4 years into my career at a local but major media producer, and I don't feel any closer to those goals. 

I was trying to solve the problem of both wanting to purchase a home, and wanting an income producing property.

Which cities do you think will produce the best returns in the multi-family space over the next 2-3 years?

Sure, STRs tend to be more a hybrid, but if it's a permitted STR or condotel, it's a lot easier to argue that it's a business and while it's still valued based on the comps, buyers tend to be willing to pay top dollar due to the revenue they produce (or should I say "used to produce before the pandemic"?

Similar to what it will produce.

In northern Illinois if the building is entirely produced off-site, it can be classified as a “permanent trailer”.  

@Kristopher KyzarWhat you are proposing is a good strategy for getting that tax-sheltered retirement savings into a sable asset that can produce consistent income.In order to sponsor a Solo 401(k), you need to be self-employed and have no full time employees.