You need to season the first loan before you can refinance the property.In other words, you need to wait for a few months of ownership before lenders can lend on the basis of an appraised value of the house instead of the initial purchase price.

This ended up turning into an eviction that took 5 months and cost thousands of dollars.

If you as the landlord don’t like the tenant, you have to wait until the end of the lease to get rid of them.

Also, while you are waiting on ownership, the building can be degrading. 

To get into multifamily with a FHA can be an option but I truly recommend that you wait to save up a little more money first.

So my question is, can buying to be built construction work the same as real property if it’s really just a preapproval up front (with contingencies would be fine), then a much longer waiting period to close?

Can’t wait until I can give back.

I just finished my real estate courses, and I can not wait to hang my license, probably in the city of Downey.

Waiting. 

You waited 45 minutes???