Check with your lender first—they may allow it if you personally guarantee the loan.2.

I own a mortgage company, so I have my loan officers use this Fannie Mae income calculation tool for all business for self borrowers: https://singlefamily.fanniemae.com/applications-technology/income-calculator .

P&I stays the same for the duration of the loan.

Used an FHA loan as owner occupying with a 3.5% downpayment.

How can I build my credit and financial profile to qualify for loans?

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

@Summer Shelton yes, FHA loans do allow this but make sure you speak with your lender about some of the trip ups from these loans.  

Points for the loan 1-2 points, so now you are in $3,413 roughly. 

A better option if you can swing it is to purchase with your own funds, gain access, then refi into a loan.

Registration fees $800+ SOI $50 fees California and legal stuff-keeping it simple-easier to refinance a SFR if decide to just BRR and cash out refi in my personal name versus trying to get loan in LLC name.