Hard money lenders focus more on the property’s value rather than your personal debt to income ratio (which traditional banks use) allowing for quicker approval and funding.

My passive income would be $262 total ($131 per unit).

I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down? 

I'm a local real estate broker, investor, and manager (100+ rentals, mostly Airbnb/STR and multifamily).House hacking is a tried-and-true method and in Sacramento you can produce some meaningful income while enjoying the appreciation and tax benefits of owning real estate.

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month. 

I work mostly with bank & credit unions lenders, who tend to be much more conservative, and most of them use a 35% operating expense margin.Also, the operating expense is calculated off the EGI (Effective Gross Income), which is the Gross Rent x the Occupancy Rate (i.e.

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.

Otherwise, the only tax that applies is income tax on withdrawals from a Traditional IRA. 

Typically, I run a current income/expense column next to a ProForma column to show potential value add opporunties.I agree with @Robert. 

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.