Another option is to buy a house, divide it into separate units, and keep one for yourself while renting out the others for more privacy.

Keep it short and sweet. 

-will I be able to keep my interest rates?

I will keep following this thread.

IB has the water/sewer issue but it keeps getting more press/exposure.  

my goal is to keep it as simple and low cost as possible.   

Because you've built that equity, but you also have the ability to adjust how much of that equity you keep in the property when you transition out of the construction loan into a more permanent loan to produce more cash flow.#3: Are you going to self-manage or hire it out?

I would still encourage you to keep your debt level low even when using a cash out refinance.

I want to buy it as a rental property keep it for a few years then sell it.

After 1 investment property it's easy to be over your personal DTI ratio and to keep going you'll likely need a small local bank that looks at the debt service coverage and the risk.