RULE: "The seller must have owned the home and used it as their principal residence for two out of the last five years (up to the date of closing).

Will it be more beneficial as a short term rental since it's somewhat close to Washington, DC?

It won't be 100% accurate, but it will be close enough.

Account Closed could you clarify why you say he could sell to his own company in a few years?

Only to close, and I visit the property to find out the tenant had not moved out as claimed.

When you refi from a hard money loan to a conventional loan do you still have to pay 20% down or do you just pay the closing costs for the refi?

I wasn't sure if Sylvester was close enough to Albany to generally have its same characteristics from an investment perspective. 

If you are looking to get as close to the comps selling for 80-90k make sure you have the same amenities but don't overdo it.

Are you looking for a closing attorney or something specific?

If you are looking to buy as an investment property, perhaps it's not a bad idea.If you are looking to buy a new primary with low down payment, in order to circumvent the DTI issue, you need to provide your lender with a lease and two months' rent for your departing residence at closing, so that the debt-to-income ratio is not an issue with your first home being counted against you when buying your second primary residence home.