- Initially removed problem tenants, renovated four units, and raised rent.- Future plans to add one unit and raise rent on former property manager by $450 per month.

My wife and I Currently have short term and long term goals, the deal line for the long term goal is october were looking to raise 15k by then to use an fha 3.5% loan on our first sfh ( currently we rent an apartment, ) Iknow a lot can happen between now and then, I am fully aware that we are in a sellers market (Dallas area) My question here is how can I bring in more capital?

We've already begun to raise rents and plan to refinance and pull our down payment out of the deal within 2 years.

We've already begun to raise rents and plan to refinance and pull our down payment out of the deal within 2 years.

The one thing I'd be cautious of in that scenario would be if the fed starts raising interest rates as promised you'll not want to give up your rate today to refinance. 

I have a low credit score (slightly above 600) due to carrying high credit card debt as well as having some charged off CC's from my college days, however the statute for those to show up on my credit report expire in August of this year so it should provide a sizable boost to my credit score, in addition to my plan I have in place to reduce my total credit usage from $12,000 (out of 13,000 available) down to about $4,000 by July (hopefully lower!).  

At this point you should probably look to bring in an experienced developer co-GP to help with the project and raise.

The way to do this is by raising the rent.

Also would you suggest I raise the sqft on comps by 200sqft to get a better estimate?

If you find a 1-4 unit you want to purchase but the down payment is only $50k you only pay interest on the $50k used rather than on a Cash-out you will raise the rate on the property above that of a Rate and Term Refi and pay for the full $80k you pulled out at closing.Best of Luck!