Financing next property with Live in Duplex Rent / Payment

[Blake King]

Hello Everyone!

(tl;dr below)

I met with a Mortgage broker a few weeks ago, and came away very discouraged. 

I am currently in sales, with about 1.5 years of commission, getting close to the 2 year mark so it can qualify on my DTI. My current taxable income before i hit 2 years is only 30,000 / year, so there is not much i can qualify here north of Seattle. I did manage to buy a Duplex last June, with my dad as Cosigner, and a significant down payment. As i get closer to 2 years, i want to be ready to buy another property when my income is lend-able.

Here are the financing specifics. 

current mortgage $1700 / month.

Rent from unit A is $1200

We live in unit B, i think i could rent it for $1100 when i move out. 

The mortgage broker said we could not count that rental income towards my DTI when i plan to move out and rent, as it would have to be done before i moved. When i hit two years i am hoping to buy a property in the ballpark of 300k-400k+ and it is seeming impossible.

TL;DR - How can i qualify the rental income from the unit i live in, when i move out and try to buy another? Having this off will be crucial to getting financing. i have 0 other payments, no student loans, no car payments, no credit debt. 

Thank you for your help!!

[Blake King]

hello @Jaysen Medhurst

1. Absolutley, i could get a much better deal in Texas or somewhere else. I knew it was not the best deal when i bought it, but i also knew that 1. i needed to get started, and 2. it sure as heck beats renting! i needed somewhere to live no matter what, so paying $500 of my mortgage myself and getting the tax benefits / appreciation / experience landlording, would certainly beat paying someone else $1200 / month in rent. 

2. 30k is my taxable income at this time since i am on comission. i make roughly 80k / year including commission, but this is not lend-able as i am under 2 years experience with this.

3. this actually was at a local credit union that i had previously talked to, but i did stop there as it was a little early to be checking. I really need to wait until they can count my commision, just trying to get prepared! 

I am about 2 hours north of seattle, in Bellingham, and i did move into Mount Vernon (which is a LOT cheaper than both bellingham and Seattle. I will likely be moving closer to Seattle, just a bit south in Everett. Anything within an hour drive of everett, is around 300k for an 1100 sqft sfr, thats if its run down. Prices are crazy here, just trying to beat renting is my primary strategy, then i will look for out of state rentals. Thank you for your advice!