If you are buying to live in, you could also do FHA with a cosigner.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

I like the detailed descriptions others have given, but I also keep it simple:A: I’d live there with my familyB: I’d live there if I had to with my family C: I’d live there if I was single D: Nope

Need to see what your market you live and work in presents for these kind of opportunities.. 

Mega TV in the living area and open concept.

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in. 

For llc, land trusts, or living trusts?

There are people that do flipping in other states while they live in another state from the projects and they are successful, but they have built a team while doing it. 

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

I live in Lancaster, PA and it's a lot here that's very positive.Our market is historically pretty stable and hasn't been subject to sharp increases followed by sharp decreases in property values.