The strategy must come first, then you find the property that will work with the strategy—it’s not the other way around.When it comes to designing your strategy, there is no perfect one-size-fits-all solution.

So it could be a perfect fit for investors looking to put capital to work and make a healthy return while waiting for their next Real Estate deal to become available.

If the match is not perfect I would do as @Jim Shepard has stated.

Refinancing is perfectly fine.  

Try your best to not let emotions get involved either way.Once you arrive at the purchase price where the numbers work for you in a perfect scenario then ask yourself  "Am I willing to lose this deal over "x" amount of dollars" If you aren't willing to lose the deal over lets say an extra $3k on top of your H&B than offer that number.  

Hi Sarah, perfect credit is a common myth for a primary residence.

It's perfectly fine to own and 1031 property in your name, taking advantage of easier financing and purchase property in your name.  

@Peter Schaub, @Alex G. has explained it perfectly.

I wanted to wait until I was done with my MBA but,as wife pointed out, there is never a perfect time for anything.

(FRED Economic Research site)Correlations were (for those unfamiliar perfect correlations are either +1 or -1, a 0 being no correlation):- Mortgage Rate to % Median Income = -.55 (Moderate)- House Price to Mortgage Rate = -.89 (Strong)- House Price to % Median Income = .84 (Strong)- Monthly Mortgage to % Median Income = .98 (almost perfect)This chart is not inflation adjusted, but does give a sense of when would have been a good time to buy versus not if you go by the variance from the trendline. 06-07 = worst on chart, '11 = pretty darn good.