@James Calvert there is conventional financing that allows you to use renovations to make the property livable, just as you would with an FHA 203k loan.

Buy box: Location: Approx. 30 min drive to Boston Heights, for workNeighborhoods: Decent walkability score - not far from shops/restaurants/trendy neighborhoodsIdeal tenants: Close to hospitals/universities/schools for professionals/students/familiesBudget: $175-250K - Buying w/conventional loan, 5% down/ approx 20K reno.Property type: MFH 2-4 units - preferably side-by-side, with a yard we can fence for our dogUnits: 3+/1+ - better if 1.5/2 bath per unitTimeline: Plan to live there for 2 years, but possibly only 1 year if we find another investment opportunityGoal: Focus on appreciation - would like to see cash flow in year 2-3 (the year we move out), including overhead (Vacancies, Maintenance, Utilities) and budgeting in PM if eventually we don't manage ourselvesValue add: Opportunity for some forced appreciation, but not a full reno - cosmetic upgrades and updating kitchens/baths while we live in one unit.

Can do a DSCR or full doc loans but these will be long term rentals. 

That will be a big factor with regards to whether you can qualify for a DSCR loan or not. 

Quote from @Eric Huntermark: Additionally, as I'm thinking about conventional loan products as well.

Hard money loan How did you add value to the deal?

Then I refinance it with a long-term DSCR loan.

I want to find a way to get a revolving line of credit, or hard mony loan for this trailer house w 4 acres above.

We can afford this, but getting a new loan at ~6.5%+ wouldn't be doable. 

When flipping, the most important thing is understanding the available loan programs for potential buyers.