Instead of a traditional down payment, I would give them some money (maybe just to bring the loan back to even).The upside if taken over the loan at the current balance, with some rehab and hopefully getting the front lot back would be a nice ROI. 

Duluth has traditionally had a strong college rental market and thankfully any small decline in enrollment rates haven't been as severe as other traditional college cities, eg.

The good news is you don't need a specialty loan for a house hack, just a traditional primary home loan.

Lenders will want to know if the property is generating income and if it qualifies for a DSCR loan or traditional financing.

@Saul Vargas, to piggyback off others, sourcing a traditional SFH rental that meets your underwriting criteria will be complex due to interest rates and market conditions.

You don't have to fit into a traditional "avatar" box to bring valuable insight, so don't sell yourself short. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

With the high interest rates it hard to get much to cash flow with the traditional 30% down. 

Traditional lending doesn't lend on C5. 

Hello Ralph,Yes you can used a HELOC from another property as a down payment for a new one, then get traditional financing on the remaining 100K. 

I do not have a traditional W2 job so I can't pursue the typical conventional loan or a FHA since I don't have income (hence the DSCR route).However, I've seen that most DSCR lenders do not lend if the loan amount is less than $100K.