Buying Home W/ No Employment

[Chase Finn]

I'm transitioning out of the military and looking to start college in the Philadelphia area with my Post 9/11 GI Bill. For those who don't know the GI Bill pays a certain amount of money every month aside from the college tuition. I was looking to buy a rental property and house hack. The question is how will I finance a home without employment? I will be a Navy reservist but I'm unsure banks will accept that as a source of income. I would highly appreciate any help with this.

[Chase Finn]

Originally posted by @Darius Kellar:

@Chase Finn if its your very first home, I recommend getting a single family home first. Because they are easier to resale for a profit, fix, and rent.  Getting a multi family on your first shot sounds cool until you realize those things.

It baffles me that the internet preaches to run and get a multi family home first.  Yea of course you can live in one side an rent the other side out. But ask yourself, the roofs larger, you will need another furnace, and resale upside. If you are selling multi family home. Most likely they are going to be an investor who is looking for a deal or atleast be looking for the numbers to make sense. your market to resale will be limited with multi family if you ever need to sell out. 

Hey, but if you know what your doing. Then Dive in head first!

 Yes, I most likely wasn't going to get a multifamily home. I guess you could say I really just want to buy a single family home and basically have a roommate that pays. I'm not trying to bite off more than I could chew.