Challenges for investors in AstoriaAs seen in the analysis/spreadsheet, achieving positive cash flow on a duplex will take at least 4 years.

I've seen too many people try to force a tax deduction or strategy but end up putting themselves in a worse position by picking a strategy that doesn't align with their goals.If you're done with real estate altogether there are a few recommendations.

It's possible your loan officer is either unaware of the guidelines or his company has an overlay.As a lender who specializes in VA financing, I reach out to the VA Regional Loan Center of jurisdiction (based on what state the property is in) anytime I have a scenario like this, that way I have VA's position in writing to submit to my underwriters.Aside from the fact that both units are under lease for 10 more months, is there any other reason you could not occupy the home within 60 days?

Although my income is great for my first job out of college, I've talked to a couple lenders in Salt Lake City and got the feeling my salary (~85k) will not be enough without bringing a larger (~20%) downpayment.

If they don't reply or care, you'll still be in the same position.

Obviously people can get deals done with little or no money down but as a new investor I think your time is better spent getting your financial house in order so that when you go to a bank with a deal you are coming from a position of strength.I kind of chuckle when I see folks who have poor credit scores, no money saved and are looking for advice on markets to invest in. 

With my current salary I can only borrow 300k and it will give me limited directory in the market I’m looking at. 

Definitely a unique position to be in. 

i was exploring and saw some of the neighborhoods in kyle, Tx has school ratings like 8 and brand new houses in the range of 300K with potential rents at $2200 per month so overall making them cash flow positive. however, i am not sure why Kyle is a popular place. it is mid way between austin and san antonio but that does not seem to be a strong enough reason. 

A promissory note and deed of trust are important but there are also other disclosures and documents you should collect to help protect the loan - Lender's Title Policy in 2nd position behind the bank loan, Loss Payee on the hazard insurance policy binder behind the mortgage lender so your parents get reassurance they'd be paid back if there were any claims that need to be made.