I would also steer clear of a Jumbo loan for the same reasons - max conventional limits vary by area ($548,250 in the Portland area for example).

That way if you ever decide to steer away from rent-by-room strategy, you will still have a property that cash flows nicely for you.

Like taking candy from a baby, I'd say up to 95% of realtors will constantly make comments to create doubt in effort try to steer/coerce/ refer these borrowers to their "preferred" lenders!  

And only buy if via seller financing on a note+mortgage, as Steve says steer clear of contract for deed for your protection.   

It will be challenging to find on the MLS, but if you steer your marketing right and connect with the best people anything is possible.

It is important to set strict screening criteria to steer away from any potential applicants that would just be wasting your time. 

They should be able to steer you in the right direction.

“So do we think sellers agent is newer and less experienced than you, are they a total idiot, or just trying to steer you away from the deal with this statement?

If you haven't run across it yet, the Bigger Pockets podcast is very entertaining and informative.I don't have much experience in Fall River or Swansea but I believe there is at least one real estate group in that area; if you can't find it PM me and I can connect you with a friend who owns and manages several Fall River properties who can probably steer you in the right direction.Portsmouth can be pricey but if you can find something that works it's a great area and I don't know that a lot of people are actively looking there (which is nice).

Most of the investors I know steer clear of Equity Trust.