The good news is that over the next 3-4 years, you will get to know the property in and out and know it's quirks and also be able to scout out a good property manager in the area (since other folks in your chain of command and sphere's of influence will also be in the same situation as you. -- Own and then move and will need to rent their places out.)

Thanks - I found out the docs were filed incorrectly and that the owner is the owner.It is a rental property with a tenant.

Is there anything incorrect with this line of thinking?

I was Googling to see about FNMA delayed financing on primary properties in Texas (Texas has stringent primary property equity loan guidelines) and saw this post on investment properties.FWIW - we provide FNMA delayed financing for investment properties regularly, and what you are leaving on the table in terms of lost leverage as it is being discussed here seems to be incorrect.  

I'll give you some averages I was told and please tell me if any of them are incorrect of if I'm missing anything.

I noticed some of your calculations are incorrect.

Of those we know, especially those who do many deals at a time, most have a pool of lenders big and small and pecking order that depends on who can close the quickest, for the most amount of cash, the least cost, and probably several other criteria whose order of importance depends on the deal.All lenders have their pros, cons, and quirks.

I'm curious what the biggerpockets community here thinks of quirky properties like this one: youtu.be/KnGzTe-CaYQ (video tour captured by GC)Quirks & problems include (but not limited to):-exposed (and unsightly) piping (can't be to code, right?)

If I am going about this incorrectly in using their leases to begin with - would appreciate thoughts on that too.

The loan would cover closing cost, 6 months pre-pay and sweat equity/cosmetics on the property.The person who does the loan will earn 12% for 12-18 months on the $50,000 which is secured by the Real Estate.This is incorrect.