New to Bigger Pockets Seeking Advice. Long Island, New York

[Eric Brust]

Hello all, I am new to Bigger Pockets and I am seeking some advice!

I am looking to purchase a house for around 350k in Suffolk County on Long Island. My plan is to purchase either a mother-daughter or home with a finished basement apartment. Being I'm alone, I plan to live in the smaller area of the home and rent out the larger portion. Through certain circumstances, I have the means to purchase this home in cash. Through research and gathering information, I have learned that buying a home cash is not my best option at the moment especially with mortgage rates being below 4%. Being that i only work off the books on the weekend for a little extra money,I have no verifiable income. The off the book income I do make is not nearly enough to satisfy the debt to income ratio that many banks require. I am willing to put down 30% or even 40% on the home if it means not taking such a large capital hit.

If you guys have any advice or solutions I would greatly appreciate it!

Thanks!