For a cash out most DSCR programs are going to require that the property has not been on the market for the last 6 months, but there are a couple who will allow after the property has been pulled from the market but will likely have a pre-payment penalty. 

~we are going to buy a duplex together and use my equity in a heloc for down payment as well as save another 20k per couple over next year ~wife and I (plus 1 kid)  will move to one side, His family to the other (2kids)~going to turn my house to a rental, with the eventual goal to turn my half of the duplex to rental as well (goal is 50 doors by 50 years old I’m 31)~Market is a bit light, i am considering and open to building duplex.

(i) The term "Insured" also includes(A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs,devisees, survivors, personal representatives, or next of kin;(B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization;(C) successors to an Insured by its conversion to another kind of Entity;(D) a grantee of an Insured under a deed delivered without payment of actual valuable considerationconveying the Title(1) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by thenamed Insured,(2) if the grantee wholly owns the named Insured,(3) if the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliatedEntity and the named Insured are both wholly-owned by the same person or Entity, or(4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by theInsured named in Schedule A for estate planning purposes.

Can I claim any of the purchase / down payment on my taxes?

Be super careful if you aren’t able to make these mortgage payments out of pocket if no rent comes in or a large capex expense “suddenly” comes up. 

Ask for one year history of the rent payments from her family's rental property.

I prefer to attend the "non-pitch" meetings in which I actually get to network with like-minded investors and collaborate. 

A family member agreed to finance the down payment, but I ran into a snag obtaining conventional financing so I ended up borrowing the entire purchase price from the private lender.

And yes, moving out and purchasing another property to house hack (and use the bathroom renovation budget for a down payment) is an option for me!

@Tyler Kowalczik- thanks for the post ....1) get pre approved for a nypotehtical  scenario  so that  you  can make sure you can get  financing and also  so you  can  become familar with the process  2)  you will need a  down payment of  15% or more   3) once you know what a  possible  realistic  loan payment  looks like - do your  reserach on  what  rental incomes  are  realistic  and  this should help with your  decsion making .....the prices are  high in LV ...Port angeles  or  P townsend  might be  better ......consider  Kitsap county  ( although its  been  increasing in value )