Maybe your first step should be to figure out what YOUR long term or short term goals are and then figure a way to make the properties work towards those goals because you have so many really good options to work with. 

However, to achieve those returns requires renting individual rooms month to month as well as for Short Term Rentals (AirBnB style) rather than renting each tri-plex as an separate living unit.  

Interested in taking on our first real estate project and have our eye on a short sale that needs A LOT of work.

Seller finance to get started then refinance shortly afterwards, or are you thinking the whole 5 years?

Seems like a combination of rookie landlords and short term gains over long term thinking...

I’ll PM you for sure.As an update, one thing we realized is that a HELOC on the property to be flipped (appraised for $85k) would essentially destroy our credit (large loan for a short period, closing out a line of credit after a short period).  

Short-term looking to get pre-approved for an FHA loan to get into my first property.

(this is important if you do need a short term loan to purchase then refinance out - and the answer should be 1 day...very important that it is 1 day on title is all that is needed to refinance) What is my minimum down payment required?

There are five short videos on YouTube.

@Mike B.If your lender won’t close on the property without the new roof, maybe you could have the seller do a short term seller financing situation for you.