I want to do a bank statement loan(I'm an independent contractor)with just me on the new loan in Texas .

@Charlotte WilsonAs long as you continue to occupy the property you purchase with an FHA loan and you're not applying for owner occupant financing on the other property, that shouldn't be a problem.

When I am looking for a new investment property and am strapped for cash, I typically look off-market and try and find something that can a seller is looking to sell that needs minimal repairs to be rent ready and the purchase price is 80% of the ARV this way I can use private money to buy in cash, do the repairs needed then refinance on a DSCR loan and pay off the private money loan. 

Questions are what type of loan are you targeting?

@George Blower  Are you sure on the part that you can't take another 401k loan until 12 months after the first loan is repaid?  

Any other questions or help with a loan, feel free to Dm or email me!

I was looking into unsecured personal loans but they only cover about 50-100k for 1 year duration.  

I argue that more money in the hands of the rehabber makes the loan safer.

I'm considering using hard money lenders or DSCR loans, but it seems like DSCR would be a bit complex.

Keep your automobiles safe..