I'm not sure what else to do, but we have a month before the new tenant moves in and we'd like to get something done that is cost effective (not tearing out the ceiling again :).

How many years must I live in the property before I can buy and move into a new one?

Have her move in with you. 2.

Just make sure everything is clearly written and legally enforceable.Having a local property manager sounds like a smart move, especially since you’re managing from out of state.

Its tough because my background is biochemistry, where the MBA moves me more in line into a business direction if anything on paper which is valued by most institutions so if I wanted to stay corporate ladder I think it is justified.

The goal would be to refinance after 5 years, use appreciation to pay off 60k, and cash flow would continue to increase over time. 

It needs to qualify on DSCR and I would make sure the 80% still hits your cash on cash goal. 

I am extremely interested in assuming a mortgage, seems like a way to have a cash flowing monster after you move out of the property. 

I have been in the process of 1031'ing the C class properties in my portfolio and have been moving these over to STR.

What are your specific goals?