If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

Renting out a room is a great way to get started, and I wouldn't get too settled into the "going rate" use that almost as a floor. 

CA has the highest sales tax rate in the country.

I have a condo in Connecticut that generates a cash flow of about $750 a month, and I have approximately $130,000 in equity at a 3.25% interest rate.

I do direct booking through the Houfy website, taking credit card payment by Square. 

Quote from @Jimmy Rojas: I live in Arizona and homes here are sky high, youd be lucky to get %6 interest rate, I would be a 1st time home buyer, apart from being 1099 employed would Trumps real estate plans benefit the little guys like me? 

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

New-home sales hit a seasonally adjusted annual rate of 698,000.

They could even hire you to do the work on the house and instead of paying you they could just give you a credit at closing.