Purchasing OO property while underwater on current home

[Justen Ashcraft]

Asking this question for friend, as we haven't been able to get a positive answer.

She owns a property that she bought in 2007 at the peek. worth about 145k and owes about 147k. She wants to keep it as a rental property and purchase a new OO property because her family is growing and she and her husband + kids need something bigger.

She has been attempting to get pre-approved, but they won't even discuss it without 20-30% down, or that much in equity in the current home, which isn't going to happen. Are there any programs or strategies out there that she can use to purchase a new OO property while keeping the current house as a rental until the value comes up and she can sell it? Her credit is 800+ and DTI is fairly low. Thanks in advance.