You can also refinance again later to pull out more cash if the equity increases.HELOC (Home Equity Line of Credit): This would allow you to take out $20k as needed while keeping the current mortgage in place.

I know the Guide isn't law, but in my experience its not the law that is solely enforced, but also the derivative regulations, formal guidance documents, as well as case law history.

The website was super easy to use and the prospective tenants were able to submit an application, which gave me their income, credit, and background information.

Commit to spending less, paying off high interest credit cards, maintaining positive cash flow in your personal finances, and cleaning up your personal balance sheet.  

(I need a Co-signer because i'm young and don't have the credit history but I have the income and good credit)

You only need a place to track tenant information, payment history, maintenance, etc.

They would be the ones to answer that question based on your credit, income, debts, if you qualify for down payment assistance, etc.A second point, is that if you find a house within your means and don’t overextend yourself, you will likely come out on top in terms of housing costs compared to renting in the long run. 

My constraints are that I am only 24 and do not have any previous lending history nearly to this capacity, as well as having limited knowledge on how to structure these deals with subdivisions.

Keep in mind you need so many different website plug-ins and features and you have to make it secure for credit card processing.

But focus on the sponsor and their background / history as that is very important