Since the property is there, I can only do investor loans in AL, but from a consumer standpoint you can do Conventional, FHA, VA, and USDA as a renovation loan where you take the cost of the property plus the cost of the renovations as your purchase price up to the value of an "As-Repaired" appraisal.

HI Hyeseong, as long you can prove that the borrower can legally work or stay in the US with some source of income then anyone can apply for conventional.

You will get almost always get better terms using conventional financing. 

No conventional lender (that I've found) will be able to fit all this criteria, because it's very unique.Occupancy: Currently rented on a short-term basis (airbnb), however, in the process of securing long term tenants.Gross rent (for 1 tiny house): $14,400 annually ($1200 monthly)NOI (for 1 tiny house): $9,600 annually ($800 monthly)Expected Gross rent (for 2 tiny houses): $26,400 annually ($2200 monthly)Expected NOI (for 2 tiny houses): $18,000 annually ($1,500 monthly)Value of portfolio financed at 8% cap rate: $225,000Loan terms sought: 70-80% LTV loan size ($157k - $180k), 20+ year termAnticipated or actual appraisal issues: This is where one of the main problems lies.

Probably conventional investor loan is your likely choice, but some chance you might also use DSCR loan.

@Alyssa TeepenIf you are using a conventional lender your DTI will be in play.

Do note that there is a 5% down option that is conventional as well if you don't want the PMI.

The market I really want to be in, is a small mountain town where inventory is insanely limited.

I also like some of the apartment inventory in Lake County. 

I am trying to get a 5% down first home buyer conventional on a fourplex for my daughter to househack and lender I spoke with says that we need to calculate the debt for all the other properties I own and pay from businesses into DTI.Is it true?