How Can I Buy a Property That is Well Over My Loan Amount?

[Thomas O'Donnell]

What's up guys! I'm in need of some advice/tips for my first investment property. I am moving to Columbus, Ohio next week and will be staying in an Air B&B for a month while I secure a job and look for property. My goal is to get into a duplex (this is really what I want) but I only have a pre approval estimate (not official til I pick up employment over there) of around $150-160k. Unfortunately there are no duplexes in this range, and most of them are over $250k. However, I could qualify for a SFH and rent out the rooms. I really really would prefer to get a duplex as opposed to a SFH and rent out rooms. What are some creative ways that I can finance a duplex/qualify for something well over my loan estimate? Also, many of the SFH have just one bathroom for 3 bedrooms and sometimes 4 bedrooms. If I am renting out the rooms in a SFH, I would really like there to be at least 2 bathrooms for the amount of people living there. I would much rather have a duplex than a SFH but it seems to be almost impossible. I refuse to give up though as it is what I really want. Thank you for any tips on how I can finance this or find other ways to qualify.

[Austin McClain]

Has the lender accounted for the rental income you'll make if you do a duplex? That could increase your loan amount.