I fell into construction and that's where I've learned a lot of skills. 

The first they'll point out to you is it doesn't sound like this property will qualify for your financing....you need to have that discussion with your lender..they can give you some guidelines. 

The only type of loan I can qualify for is a stated income loan.  

I do plan on moving a portion of this amount into my bank but wonder if it would still be honored when qualifying for financing since it is a fairly liquid account.Thanks in advance!

What qualifies as a "Deal" anymore here?  

In reality, this is a process that requires (by law) that you enlist the aid of a Qualified Intermediary (there are a couple great ones here on BP).

I have read that if your initial intent was to rent the property and you end up selling, that would qualify for a 1031 exchange.

She’s the least qualified member that all the others are deferring to on all housing matters.

There's a wealth of information on Biggerpockets and I would suggest doing some self-educating on the different aspects of REI through the "Education" tab up at the top of the site.To be a little more specific, search for "House hacking" forums and blog posts to get a more in depth look as to how to get started with your condo and /or multifamily plan.Also consider why a condo and not just a multifamily to start...I could almost definitely say you don't need a RE company at this point.Like @Cameron Norfleet said, you could start with reaching out to a lender to see what types of financing you will qualify for. 

Set a criteria for qualifying applicants.15.