Hello Everyone,

I am looking to purchase my first property. However, I have found that in Seattle, most investors stay away due to the stringent renting laws and the high cost of real estate. It looks like to get started, I will need to do my first deal out of state, perhaps in the Midwest or the South.

I am looking into DSCR loans, but I am being told that because I do not own my personal residence, I may not pass underwriting.

Thinking outside the box:
I started asking lenders about house hacking. Perhaps the conventional 5% down, but since I am self-employed and write everything off, I am being told that I would still need to put down 20% and provide a year's worth of bank statements to satisfy the underwriter.

My question for the community is: does anyone have any ideas on how I might structure my first deal to acquire property number one?

Thank you in advance for your suggestions.