The other alternative would be a DSCR loan to your entity with both or either as a personal guarantor. 

The alternative is moving to somewhere cheaper or find a higher paying job.

But, it's not a no-brainer better alternative to renting. 

I guess I’m looking at alternatives options, if this is to hinder me acquiring in the future  

Recognizing that I'll need to discuss options with an attorney, I'd like to have a few alternatives to bring up and talk through with them.

Another alternative is creating some incentive to bring on an experienced investor and maybe work this stuff over the years to possibly navigate the pain.

It might be a slightly safer option ;) ~Gabe Randall

Alternative plan would be to use a  3% down conventional loan. 

Are there private money lenders who do cash out refinancing deals as an alternative?

What better and easier way to do that then get these stupid laws passed.OK, rant done.I agree with Ann on some of the issues she raised, keeping in mind that some of those laws/rules only apply to owner occupant loans, not investor loans, however, lending in your own area where you know your market will help keep you safer, no question about it.As for not having to market for borrowers if using a broker, I would have to toss this out - you will be doing a lot less business if you rely on brokers to find your borrowers.