Quote from @Ana Maria: I am a first time real estate rental property investor.

Also, banks typically use a valuation process that does not favor the BRRRR strategy. 

I would rent out an extra room, basement and yep, deal with a part time roommate.

As a Mexican realtor, I’ve worked with clients alongside an accountant to simplify the process, including setting up the necessary bank account for rental income.Let me know if you'd like more guidance! 

So far the process is simple. 

I weigh more on making 3x rent and having great rental history of on time payments with no evictions, no lease violations or violent criminal history.

You have to give a time period for him to fix or "cure" these violations.

Let me know if you have questions, I really went through and through the process on this deal. 

But I want to now purchase a house with the first time housing program, would I be able to?  

Trusting what the franchise tells you is foolish.I can tell you this: there are companies selling leads to real estate agents all the time.