Couple options that might be viable for you (I don't know all of your circumstances)- BRRRR into a DSCR by creating equity; partner closely with a lender before starting on this to cover seasoning and other requirements - also this will only work for an investment property, not a primary- bank statement loan/1099 loan may work if you can put at least 10% down and want a primary residence - will depend on how you're operating and a few other variables- seller financing; find a seller willing to carry a note for a few years- co-borrower; someone with decent income and credit who will be on the loan with you- DSCR purchase; be prepared to put down at least 75% or your rate/pricing will be horrible (70% is better); many lenders will have experience requirements; investment property only- find a private lender willing to fund the loan you need- get a salaried job relevant to your college coursework; your fico is strong and you have some cash, so househacking could be within reach via Fannie/Freddie multifamily purchase; get a solid workup from a competent lender before going this route as employment history will be touchy with this routeHard money can be used for an acquisition and rehab, but make sure your takeout financing plan is bulletproof before getting hard money.I'm originally from Baton Rouge.

Up front pre-build and carrying costs alone are a killer.

@Amber DouglasIf you are confident in renting the 6 unit and have funds to carry you through the rehab and lease up then it all comes down to the numbers.

Thus, he wants nothing to do with carrying the note.

Seller carry wraps are normally folks that cant get a loan for various reasons so they are a credit risk/default risk.

One advantage of seller carried mortgage or private notes is generally a reduction in income documentation.

His stance is that there would be no point as any depreciation would just be carried forward to future years.  

For example, I've had amazing success with seller financing—one time I even got a seller to carry back 100% of the home's value in a first mortgage, meaning zero down payment.A crucial part of this is finding motivated vendors.

Or a $500K property with a rehab budget of $200K and $35K for carrying costs and an ARV of $1M.

Yes, you will have mortgages on these properties but any true investor is not as concerned about carrying a mortgage as they are about the returns the property will bring.