@Chuck DreisonI have seen them 90 days to 3 yearsWhere I see them more in on hard money loans as some already have interest prepaidThe 3 years were on 2nd position notes which were newly originated and down payment assistance

(Not actively purchasing as my money is tied up in the market right now)...so with the 2 lenders i've gotten here:STR DSCR Rural (not a log cabin or other non-conforming structure) just remote sfrHybrid loan 15% down, interest only investment loan with seller paid points to get to ~8% and reduce closing costs DSCR would use long term rental rates to establish monthly DSCR and then offset monthly with average DTI and 800+ credit and high cash reserves as long as DSCR is .75+additional appraisal to establish STR rate estimates to be used alongside the standard long term rental rates5 year prepayment penalty with reasonable terms

Owning a property with the sister is about impossible as she is not good with money or business minded.

Given your question however, I get the sense that this might be your first time managing a project like this and so would strongly advise that you connect with a General Contractor that you can trust as it will end up saving you a lot of time and money over doing it on your.

I aim to utilize other people's money to invest wisely in buy-and-hold multifamily properties.

I would rather spend some front end money now and do a relocation, then be able to use simple side-by-side units than to be forced into stackables or all-in-ones.

We are both self-made, and while the goal feels daunting, we know we have it in us to hit it.Long story short - I love my job, but I'm done making money for other people!

They believe putting it on the MLS will make the most sense to them.Like everyone else, we are always willing to partner with people that want to learn through experience and find more propductive ways to find deals.There is money to be made in real estate in this current economy, if you find deals that have not yet hit the MLS.

With a lot of these deals, they will be very disheveled, and you will need to buy them with hard money instead of conventional financing. 

You can offer them cash for keys-give them money to move.