@Brian Lacey @Sam Lin @Melissa GittensThanks for the advice @Russell Brazil .

I feel like I have a good grasp of the financial concepts involved, but I lack experience in the "nuts and bolts" of how a deal is actually put together.Thank you in advance for any guidance you could offer.

Hi @Russell Brazil, yes unfortunately the tax information is correct.  

Hi @Russell Brazil. 

I'll  have a lot questions about the nuts and bolts of the whole process - finding a deal,  applying for a loan, writing a lease, tenant screening, tax strategies, etc.

Live trap with fruit or nuts or peanut butter will usually do the trick for price of the trap about 40 bucks..Take the critters a ways away  several miles or they will just come back.Figure out how they got in and board it up.Don't use POISION,, dead animals in attics it pretty gross, you will regret it. 

@Russell Brazil 90%??

@Andrea Delgado @Russell Brazil is 100% correct on selling this property at 900K in year 2.

That doesn't mean you go nuts, but just something you can call your own.There will always be opportunities to make money and invest, but your kids will only be little once and only in your home for a short period of time.  

As @Russell Brazil hinted at it might be hard for us to know the exact reasons but I'll take a stab at a suggestion:  If you are buying and holding a 1-4 unit property as an investment then you should be able to receive a "conventional" loan with a 30 year fixed rate.