As mentioned above, you can certainly use a commercial style loan (and there are some 30 year fixed rate commercial lenders out there) but working with a lender with no overlays on the Fannie/Freddie side is paramountSometimes when I type all of this out it might still not be 100% clear so feel free to ask any questions and I'll be here to help.  

@Nina TelthorstThat's very true.Properties have to be comp'd against "like" properties that are similar in style, size and utility AND that have closed in the last 6 months or so to have an accurate picture of value. 

So if a lender is offering you a portfolio/commercial style loan that will go up to 80%, make sure you are asking the right questions - what is the prepayment penalty, how long is the loan for, how often does the interest rate adjust.  

In more detail, this would be my advice, based on what friends have done:  Buy a house with a lot of bedrooms and bathrooms for its price with a walk-out basement; have other people (usually servicemembers) as roommates, renting by the room; house-hack the basement into another unit, and as long as you don't install a stove you stay legal where you aren't allowed to subdivide but you can still have a large toaster oven, a hot plate, and a full sized fridge; then you have two complete units (local-style) when you are deployed elsewhere that will result in a decent positive cashflow and, if you bought in the right place, probably appreciation; cash out whenever the market surges and invest in somewhere that cashflows better with all your profits.  

If your open to sacrificing some of your comfort for a few years, you can make a BIG impact on your life with just one or two house hacks!

I have a duplex (built around 1940) that has an older fuse style breaker box. 

Contributors: Veronica Joubert Purchased a single family rambler style home in Annandale, VA.

Account Closed that is my style too.

In terms of a condo, you can definitely find one that works from a cashflow standpoint in those areas but it may be a townhouse or a low-rise style building though.

Is it worth putting together a binder/report that shows pictures of what I want with the color, style and brand?