But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).

But, after having taken care of that immediate concern, it'd be even greater to then be able to get a regular 80% LTV cash out refi (after whatever seasoning time is required) on the very same property, because that would allow them to include the equity they've added, whereas that added equity (added via performing the rehab) is apparently not able to be included in the Delayed Financing's LTV.

While you would be a disqualified party to your mother-in-law's IRA, she is not disqualified to your IRA.That said, you would want to be very careful in having your IRA deal with the company, and any transactions should be at normal market rates.IRS rules prohibit any direct or indirect benefit between an IRA and a disqualified party. 

My opinion is unless you desire to speculate on the Jersey City Housing market, and find that the ~400 loss per month is worth it to have skin in the game, then I would sell.Based on the wording of your post is sounds like you prefer stable cash-flow properties to speculating on the market, but both are fair strategies when properly applied

@Joe P. so you don't care if the the title is any good, marketable or transferable? 

I know where the water is getting in and have a sump pump taking care of it, however if there is any finishes in the basement, they need to be removed up well past any water intrusion.

Most people are going to want you to have some skin in the game.

And if your SO cares about you and your future together (again assuming SO is significant other) then he/she should understand your desire to make your career a bigger priority and seeing you less in the meantime.I vote stay put at PM company because in the long run, where you are now is the better play.

It's the typical scenario of an older person who lives alone and can't take care of the house or bills. 

My previous 3 BRRRR's were all done conventional and technically I have no skin in that game.