I've also used traditional loans through regional banks and a few SBA loans. 

House hacking will be your best friend starting out .

With the upswing in the country's short-term and mid-term rental markets, a unique opportunity is presenting itself to house hackers during a time when it's harder to cash flow than it was a few years ago.

People reinstate the loans and do loan modifications all the time.

To summerize, a DSCR loan, aka lite doc or business purpose loan, uses the rents you receive on the property and divided by the new loan PITI to receive a ratio.

There are DSCR lenders will allow only a single 20 or 25% owner of an LLC to sign a Personal Guarantee (other owners are not on the loan, or liable for the loan).

To answer your question condos are better if they allow it but if you want to hop right in it with less risk I would go for a house or multi family deal.

@Jake Baker  You should think about a rehab loan if you are going to buy and hold.

If you are newer I'd suggest a house hack unless you can rinse/repeat this process again. 

If you have any loan questions feel free to reach out.