If either of you do not have 50% each in your account for the down or one person does not have 100% in their account, then she is correct that there will need to be a seasoning period of 60 days for the money to be in the account(s). 

Most Conventional loans require a 6-month wait period though from the date you purchased to be able to do a cash out refinance.

I live/lived in both areas for an extended period of time.

Your lender on the new property purchase may ask/question where the down payment money is coming from, so you'd need to make sure your future lender allows it.As for the 2nd part of your question, you can purchase a 'move-in ready' or new-build property, but in order to refinance there would likely be a seasoning period on your loan before you could do that.

Historically residential real estate has proved to be a haven during periods of high inflation.

Should I be concerned if a seller wants no inspection period or appraisal?

@Edwin Duran  if you sell now you do not pay capital gains if you have owned the home for a period of at least two years and used it at as you main home during that time providing  you haven't used that exclusion on another home in the last 2 years.

Did he give you a longer time period than needed and he's planning on coming in and getting it done on time or what? 

I guess it somewhat depends on my investment strategy, which right now could go one of two ways 1) stabilize to market and refinance to get equity back 2) hold until I am old lol5yr | 3.75% | 20yr am | 80% LTV | .5% fee7yr | 4% | 20yr am | 80% LTV | .5% fee5yr | 4.25% | 20yr am | 80% LTV | .5% fee7yr | 3.4% | 30yr am | 2yr IO | 80% LTV | 1% fee5yr | 3.1% | 30yr am | 1yr IO | 80% LTV | 1% fee7yr | 3.5% | 25yr am | 80% LTV | 1% feeSo what would the benefit be going with the IO period?

Only draw back is seasoning period and waiting for the refi to be completed.