But due to the high yields on T-Bills, the possibility of renting without the feeling of throwing money away is a great benefit to me and my circumstances.

(If that's true, then I'd suggest managing this property for 6-12 months to see how you like it before putting in all the effort to acquire more properties--there's nothing worse than buying a portfolio of properties only to discover that you hate owning and managing properties (or hate managing the PMs who are managing the properties)   :) If you do already have PM experience, and if your goal is to work hard to acquire more properties, then you might consider whether house hacking this triplex would improve your DTI and/or your cashflow, and enable you to qualify for better financing that you could then use to acquire more properties (I don't have enough info about your circumstances to know whether this would work for you, but it's worth considering).Based on your question, it sounds like you're not yet sure of which leverage options fit you best (this depends on your current financial circumstances and your goals--which, of course, we don't know). 

The length of time though varies dramatically depending on the member and their individual circumstances.

A taxpayer who fails to meet the Section 121 ownership and use requirements or the one-sale-in-two-years requirement is eligible for a partial gain exclusion if the principal residence was sold or exchanged by reason of(1) a change in place of employment;(2) health; or(3) unforeseen circumstances [IRC Sec. 121(c); Reg. 1.121-3(b)].For each of the three situations where a partial exclusion may be available (change in employment, health reasons, or unforeseen circumstances), safe harbors are available.

Some condos are unwarrantable in certain circumstances such as if greater than 50% of the units are rented, they won’t give a loan to buy.

I may be able to help you with this depending on your circumstances.

I hear the podcasts and stories of people talking about seller financing like it was such a breeze for them but I just fail to see the appeal to a seller.I think there may be a few rare circumstances where sellers finance and it could be because they have a relationship/connection to someone and want to help them.

Even appearing to push her into it would be very bad given the circumstances.....

Your lease is your only friend in these circumstances.

@Dan CahillWhile it is technically possible in some circumstances to structure such a transaction, in most cases it would be considered "prohibited transaction" in the eyes of IRS, or likely to lead to a prohibited transaction in the future.