For example: Using $500,000 as the purchase price, the difference in your DP is $50,000.

One year is a blip for an RE purchase.  

Recommend you first figure out the property Class/Risk you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

You could do delayed purchase financing, this would allow you to refi without the seasoning but you would only be able to pull out 80% of what you paid + 80% of your completed rehab.

We did purchase a SFH to live in as we have grown our family so we would no longer be house hacking.

Im in the process of purchasing a brick 2 unit from them.

With an FHA loan, you are not going to be bringing hardly any capital to closing (compared to a conventional 4-fam purchase with 25% down).   

.- Adjusted Purchase Price/ Max Bid: $210,840.80- I start with the 1% rule (thus why I start the analysis by looking at rent) and then adjust the price based on the potential pay-out from a cash-out refi and equity position on the property- more on this in a second. - Potential Investor payout (15%): $242,466 - Rehab total: $76,480.00- I just used $40/ sqft for an estimate.

However, after years of disciplined saving, I've finally reached a point where I can make my first property (a small apartment) purchase last year.

. - $50k is going to be really tight. 20-25% down on a property is not $40k on a 200k purchase.