Structure the acquisition properly, proper leverage on fixed rate debt, ample cash reserves, and run the asset professionally.

My main goal is to get to that "next step" and use these assets to leverage 5+ multifamily, apartments, or cash out refi's to spread out into additional SFHs. 

Although I prefer multi-family because it cash flows better.

The borrower would then refinance within 6-12 months, repaying $440,000 (including a 10% return), allowing the lender to earn $40,000.

@Brandon JusticeIt sounds like you have a good business plan to move it forward into cash flow positive.  

Purchase price: $290,000 Cash invested: $60,000 Single family residence in an extremely fast growing community.

My goal is to at least have positive cash flow while I build equity in the investment property.Has anyone successfully purchased a buy & hold with this strategy?

And then while it’s in the process you provide your QI will all the cash needed to finance the property.

I wouldn't be selling in this market personally, so if you don't sell the SFR and you really want to do this, a DSCR cash out refinance on the triplex, or a hard money 2nd is your only option to get the liquidity needed to make this move.

Our goal is to find and invest in cash-flowing properties.