The good news is that you can still acquire this 4plex relatively cheaply with only 5% down using a conventional Fannie product.

But if it is sub-to then the deal works for a nice base hit rental without needing to buy using a HML at 10% and points etc.

It is usually best to consider using a local lender regarding the property you are purchasing.

I have been told by a local real estate lawyer (after asking a question) that using a holding company LLC out of WY or NV is an option for "anonymity", which then they (your holding LLC) owns the other LLCs in different states.  

If you were planning on using a PM company or third-party manager, this would add another ~10% to your monthly expenses, at which point I would no longer consider this to be a deal worth pursuing. 

As I read your comments @Anna Strausbaugh it is very similiar to a 'subject to' deal except that you are assuming the loan instead of using a wrap around or keeping the mortgage in the onwers names.

Those states have "income source" as a protected class and as far as I know are only the west coast (CA, OR, WA) and the new england area (MA, CT, VT, NJ ect) Account Closed  In most states you are not required to accept Sec 8, and as such if you choose not to you could deny processing an applicant that is using a voucher.

If you are using a DSCR loan, your personal DTI will not matter.

I'm seeking suggestions on how to expand beyond my current investments, which consist of one long-term rental and my current primary residence.Background: In 2020, I purchased my primary single-family home near Camp Lejeune, NC, using a 0% down VA loan for approximately $184k.

If they are able to get it turned around and making money (cash flow positive), they then grab another one using a low-down payment loan.