It really helped us get a better interest rate on the property and typically allowed us to put 10-20% down since we were buying the home to be our primary residence. 

Sellers can avoid paying transfer taxes to the county, while buyers are spared from facing significant property tax increases.However, it's important to note that lenders typically only approve these loans for properties with five or more units.

It's a different business model than the typical broker-investor relationship.

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

@Joshua Martin,If there’s a chance you’ll sell next year, a HELOC might be the better move since it typically has lower upfront costs compared to a cash-out refi.

Hi, I am keen on a property but checked that it uses Oil for heating (instead of the typical gas or electric).

------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

However, these programs typically qualifies borrowers based on their income, such as tax returns.The DSCR would be a good option considering you and your husband are entrepreneurs and the tax returns don't look good on paper.

That sort of thing is typically negotiable.

REITs are typically easier to manage and can give you exposure to real estate without being directly involved.Explore Commercial Properties: If you're intrigued by the idea of parking lots, you could explore other commercial properties or mixed-use spaces.