Different lenders/banks have different seasoning periods--i.e. the amount of time you must wait from the original purchase in order to refi--but it more than likely will not have to be 2-3 years if you have the equity available sooner. 

Is this the only option and what is the most efficient way of accomplishing this (quit claim)? 

You are not allowed to rent my property to other people, period.

We also purchase with no inspection or contingency periods; which also makes our offer stand out better.

The cost of living in Mexico is quite low and we are able to save about $7k a month.My Real Estate Investing Strategy:I plan to do out-of-state REI.I intend to target distressed multifamily properties (2-4 units) in B - C Class areas.SFHs are acceptable but the numbers appear to work better in multifamily.I would like to utilize the BRRRR method in order to efficiently utilize capital.I would prefer to target higher cash-flowing markets.The end goal is a passive income with buy and hold.My Question:I would like to hear your experiences in the Memphis market and if you would recommend it today for a newcomer such as myself?

For example, if I buy a property from a wholesaler at a discounted amount, say 100k and the property needs 20k in repairs, and the property should be worth 150k when finished, if I buy it for 100k and only put 20k into the repairs in a short period of time, we have seen appraisers appraise the property lower than it should be appraised for simply because we bought it at a good deal.  

Any help you can provide me with during this period would be welcomed!

Occupy the home for a period of time and then convert to a rental if you decide to live elsewhere.  

I am having a hard time trying to make sense of how to use my available funds in the most efficient way possible.Morgan Stanley client services has provided me a line of credit against my investments.

They have been wonderful tenants...period.