Mortgage hacking questions from a newbie

[Ash Kakish]

First time investor getting my first rental property. Here's some context:

-The unit is a 2 bedroom, 1 bath for approx $115k in Chicago

-My goal is to rent it out, not live in it

-This will be my first mortgage (I'm currently renting in a different part of the city)

My main question is on how to mortgage hack without doing anything "fraud-y"? I don't want to live in this unit but also don't want to pay the higher rates that come with telling the mortgage company it's an investment property.

Any thoughts? 

[Caroline Gerardo]

Don't lie, the rate difference is not worth jail time