Creative solution for DPA for Investment or Owner Occupied - I just refinanced

[Hilary Granson]

I just refinanced my home to get equity and purchased a cash-flowing investment property. I'd like to do another deal this year as the market is a little softer, and I found a great property for 290K w/ a rental unit on it. I'm open to either purchasing as an investment property or as a house hack but here are my hurdles:

1. I  don't have 20-25% for another investment property down payment and probably won't for another year

2. I would house hack and owner occupy but I will need another year before refinancing for a homestead. Also, I have my own medical practice so I am self employed and need a bank statement loan which requires 10% down.  I can only afford 3-5% for a down payment at this juncture

My current homestead would cash flow well if I owner occupied elsewhere. My current home includes 2 homes on the lot. The main house which I have lived in for 9 years and a smaller 1BR in-law suite, which is rented.

Any thoughts on creative financing that would allow me to purchase the new 290K home with rental unit and rent out my current homestead (that also has a rental unit)? Thanks for any suggestions... 

Hilary