For them an FHA low downpayment loan is their best shot at building wealth. 

One possible way is to qualify for a loan, get a house with multiple bedrooms, and rent it out to multiple people.

It depends how much income you are getting in a year to determine the max loan you can get from a lender.

@Jaskanwal Preet Singh ChhabraRefinancing a converted property for coliving involves appraisal, loan types, interest rate reduction, and careful planning.

My wife and I both have decent paying jobs, but after paying rent, vehicles, student loans, etc, there’s not much left over for saving, let alone 20% down.

You live in one unit, rent out the others, and your tenants help pay the mortgage.With loans like FHA or VA, it’s easier to get started.

I am currently doing a fix and flip loan with Backflip. 

It’s so serious that, beginning January 1st in California, any lender who knowingly originates a consumer-purpose loan misrepresented as a business-purpose loan can face criminal charges and jail time.

At this loan balance, good news is you do have options with DSCR loans. 

Would taking a commercial loan on the new home with an LLC be  an issue?