I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?

Also there is no restriction on acquiring conventional loan on primary residence even if you have maxed out on conventional loan for rentals.

@Paola Astrid, if so be the case, refi to a conventional investment loan. 

Research neighborhoods near colleges, government offices, and hospitals, explore FHA loans, conventional loans, house hacking strategies, and connect with local investors.Good luck!

This will give you more time to shop rates/fees than to be under the gun with a purchase loan. 

But other times, it could be a good way to start a conversation with borrowers that really don't have a clue what is a "decent" rate on a DSCR loan.

Did you purchase your SFH using an FHA loan?

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

It depends on the LTV, type of loan, whether it is rate and term or cash out refi, and some other details, but that's not crazy.

Have you used any of your VA loan benefits yet on other properties?