Student Loan and Conventional Financing

[Liz Mojica]

Good morning everyone!  

I've recently started the venture of real estate where I'm looking to buy a multi-family property to avoid paying a $1,350 monthly rent I've been paying for 1 year. To me it's time to move on and start generating some cash flow.  I am struggling with conventional financing because of my student loan (roughly 200K). 

The properties around the area I live are between 100K-200K and rents vary from $900-$1,800. I want some advice on what my next step should be to find other options for financing. I love reading, so any book advice is welcome.

A brief explanation of what the lenders have told me so far.  

#1- I do not qualify for the first time home buyer program or FHA loan because of my student loan.

#2- According to them I do qualify for conventional loan of $140K with 3% down but ONLY for a single family home (reason why I don't feel this is right for me is because I want to move out of state after year 2 and I also need a place to live. 

#3- Other option is for $140K with 5% down, 6 month reserves plus closing cost.  (I don't have that much in hand at this time) 

I've read and listened to the webinars and podcast regarding the creative financing. But I feel that I don't know where to start.