First, banks do not prefer W2 income over 1099 income at all.

Build up job skills, build up savings, and increase your W2 income.

House-hacking with a multi-family property is a fantastic way to get started—it’s one of the best strategies for learning the ropes of property management while generating income right from the start.

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

Conventional financing is a great option to get started if you have a W2 job or easily verifiable income and you're financing a 1-4 unit property.

You can look into low-income neighborhoods usually the properties are of lower value, but I'm not quite sure if that applies everywhere but I know in Florida I see it here and there, and if you need help looking I don't mind helping.i would be wary about REO/HUD owned properties as a first time househack.

It does not include the rent income, just the appreciation, it is about 11%. 

– Considering Class A properties with established tenants• Less focus on appreciation – Prioritizing income stability over potential future gains Current Opportunity: I’m evaluating a retail property in downtown Portland with:• >80% occupancy, most tenants in place for 10+ years• Decent cap rate (6-7%), NNN lease• Well-maintained, high-quality building, with existing HOA which will take care of maintenance. 

Below is some copy & paste info about our methodology:----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.