You will use conventional or FHA, but it's VERY hard to win in Northern NJ with an FHA loan on a multi just because most sellers interpret FHA as not having the money instead of an investment vehicle so that needs to be explained.You aren't going to learn much in an online underwriting course as most of those are for commercial properties and no one online can teach you how to underwrite a small multi in Northern NJ because the vacancy, cap ex, taxes, are all different.

A trust may offer some of the same benefits as an LLC, depending on your goals, and allowing you to claim the part of the house you live in as homesteaded tax.Make sure you have the right home insurance and consider an umbrella policy for extra protection.Certainly buying a house, using conventional financing with limited money down as a primary residence and renting out parts of the house to help pay the mortgage, is a smart financial move.

For many newer investors once they're familiar with commercial requirements for 5+ multi family unit mortgages tend to refocus on more conventional residential transactions (1-4 units) with much lower borrower barriers to entry.

If you are buying for appreciation, you are buying at a time where we just hit record high median sales price in April (slight decrease into May.)Now, all this talk of Orlando "cooling" is only looking at the increasing inventory, which is still below 6 months... prices increased four straight months to start the year before a 0.9% decrease April to May.

Keep in mind that if you buy a rental property in your name using a conventional mortgage it will directly affect your debt to income (DTI).

I am now open to other ways of financing , like fha or conventional and was looking into down payment assistance programs as that’s the only hurdle this time around . 

@Dave IveryI actually think it's pretty tough to get started right nowLow inventory, higher interest rates, and lots of competition for properties

Hi all,My husband and I easily qualify for a conventional loan.

Even with conventional loans, unless you've been self-employed less than two years or don't report your income, it's the same as someone with W-2 employment We lenders just cash-flow you differently.

Conventional loans can do a 2-4 unit with 5% down.