If your interested a real estate meetup this Thursday in Corte Madera:https://www.meetup.com/realestate-1641/events/302926721/Maybe I'll see you there.... 

Also, after 6 months like you said, I believe you could easily get a cash out Refinance with a DSCR option that would be in the 5% rate as well.If the owner is not interested in Owner Financing, as long as this a 1-4 unit complex, we could get you financed at 80% of purchase, 100% rehab at 11.25% Interest only, I may be able to go as high as 90% of the purchase, but I would need additional information.

The last time I saw a structure like this, it ended up being a scam from a very well known real estate mogul...Be careful, if it sounds to be good to be true, it probably is...Cheers!

Last year, my husband and I purchased an investment property in Salt Lake City that we turned into a short-term rental.

BP is good at filtering out the fake lenders.. one little post and you get to have the assurance your dealing with a real and reputable lender.

Would it be better to purchase this for the appreciation to be able to refinance in two years to pull the equity and move into the next property and have this for tenants to pay off? 

I purchased the unit for 250K and I put about 25K into the place.The rents in the area for these type of units go for around 3K, maybe a bit more, leaving me about $400+ a month in profit after the mortgage and HOA.

Purchase price of 250k.  

Presently living in NYC -- looking to purchase my first RE property in Fairfield county, CT in 2025.

@Ankush R.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.