Speak with lenders - and consider that although they might agree they could lend to you today - they might not be able to when you need the loan.Unless the existing debt has no due-on-sale provision, there will always be a risk of the underlying loan being called.If it were to be called due:1.

They will continue to get 360 month loans for the 'cash flow'.

The loan was a mess. 

They simply do Fannie, Freddie, FHA, VA, and USDA loans.

Here’s some guidance to help with your next steps:Hard Money Loan: Hard money lenders can often cover both the purchase price and some rehab costs (up to 70-75% of the after-repair value or ARV).

Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.

I read that one of the requirements for getting your second FHA loan is having a change in family size.

Hey Makani, you should check out DSCR loans, which are primarily for investment properties and focus on the property’s income potential rather than your personal income.

I would suggest reaching out to owners of multi family who have no loan on the property.

"Good about deductions" sounds a lot like "doesn't make enough money to be a homeowner", so he should keep renting from someone else, and you should do what you're going to do with the money and wisdom you earned.Of course I don't know your son, but I think this is too dicey and you are too close to the situation.