And don’t sleep on local banks or credit unions—they sometimes offer flexible portfolio loans that could work for a deal like this.Since your wife qualifies as a first-time homebuyer, check out any state-specific programs or HUD options for down payment assistance.

Please do this first:  contact the local Housing Authority office in your market area and obtain the landlord package.

I would suggest going to the find a lender tab here on bigger pockets to find a local lender who has the same products. 

Generally local agents have one purpose, to sell.

Of course, happy to connect you to local agents if you want to explore possibilities. 

Those forms are generally well reviewed by local attorneys in regards to the local jurisdiction regulations.

A few things I’d suggest as a local investor:Know Your Markets: New England is a mix of urban, suburban, and rural areas with very different dynamics.

I'm an investor but new to so-cal and was interested in meeting some other local investors.

It was off market, I paid a local bird dog $20k for helping to get it to the close and even including that $20k at market rate it met the 1% rule.Today my underwriting would not have a 1% ratio with 80% LTV as positive cash flow in class C.  

If you’re wondering how much equity you’ve built or how you can use it to meet your goals, connect with a local real estate agent to explore the possibilities.