Having problems getting mortgage for first investment property

[Kane Rickman]

Here's the situation.. we found a great home which can easily become a 4 bed 4 bath close enough to a college so we can rent out two rooms easily.. we have had a job for two years but the problem is that the house is located an hour away from where we work and our lender says this will not look good to the underwriters especially since we don't make so much there (can't claim tips). Our real plan is to work the other job we already have set up which is in the same area.. but we can't really tell the lenders that because that obviously shows a lot of risk.. I need advice on how to by pass this in anyway.. is FHA going to be easier then conventional? Can we make it a investment property instead..? We could have 20% down but would have to pay our investor a pretty high interest rate.. instead we only have 4%