Ask the seller if you can extend closing to purchase with a conventional loan, use the hard money or private money to purchase and refi after as you mentioned but you will have to close first.

@Dan Cox if I am following your conversation with the ever-so-helpful Dave Foster, it sounds like you think it will be harder to find the replacement than sell your existing.In that case, why not just wait until you DO find that replacement make an offer with maybe a little bit of an extended closing option, and THEN put yours up for sale?

I only plan on having the 2 rentals, so refinancing them to a 30 year I feel does a few things for me, 1) lowers the mortgage, by extending out the payments, therefore freeing up positive cashflow now (vs taking the loan to term and having the rent be pure income in 15 years) 2) Turns equity to cash in the form of a cash out refi 3) gives me the option to make extra payments to still pay off the loan in 15 years.I am mainly trying to understand the motivation behind putting as little money down as possible, keeping the mortgage payment high and the PMI in tact and if my ideas behind refinancing my current home and rental to 30 years are good ways to utilize them since they will both be rentals. 

I am sure the seller doesn't want this listing to extend throughout the holidays. 

Is there anyway to determine the the 10 year limitations has been extended by action of the taxpayer or otherwise??

I don't see this property working out without a lower purchase price or extended financing period.

The only real issues are 1) when it needs to be replaced, it’ll tear up the lawn2) if the house ever has an extension, it can’t be extended there.

Even though I have extended my knowledge with the help of reading, hearing and watching everything that this community can offer (the UBG, podcasts, videos, etc).

It’s usually not the first applicant who is able to do it, but doesn’t take me an extended period.  

Fortunately, I was not over extended and was not forced to sell.