You can easily qualify for a dscr (no tax return, no dti, no proof of income) loan, cash-out, use that equity for down-payment on other STR's.  

30-year VA Home Loan Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Typical deals like that had short-term, variable rate 3-year bridge loans.  

Where you pay in cash and then take out a loan ? 

Escrow or settlement can also vary a little bit but it's all the and a' fees that vary: CPL, deeds, HOA docs, any special lender requests, troubled payoffs, insurance documents...A $200000 purchase with $175000 loan here is general estimate :  Buyer $714  Seller $1073 Going smaller sale price won't reduce the costs much as some fees are minimum floors.

@Eric AndrekopoulosHe could also sell them and not have to worry about if the borrower is paying or not - put the funds in a deferred sales trust and invest it in something less risky (not levered at 90% which is probably what it would be seller financed) and not pay ordinary income but have it taxed at qualified dividend.There is a reason why 99% of loans are originated by banks and not by sellers.

Or is it better to wait out the seasoning period with your loan balance (I used a HELOC so no hard money lenders or balloon payments) and just refi out in 6 months?

O have also taken the max loan out to buy REI, and paid myself back at 10%.

I am not an investor but a residential/commercial broker; I am new in BiggerPockets I was just customizing my preferences and Richmond is one of the areas as I do loans for primary, fix and flip, and rental properties.

10 unit multifamily is considered a small commercial loan, which limits your choices.