Some programs don't require first time buyer, just that you are making a sensible move for primary home ownership not as rental

@Ikenna OkekeogbuStarting with a single-family home rental investment in an affordable market requires education, have clear goals, plan your money, and have a team of experts.

Treat this like a business (because it is), keep operating expenses as low as possible while making your spot aesthetically desirable.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I had a water leak at a property that required remediation.

You can also get a lower rate on a 30 year fixed and even though its a 30 year loan there is No prepayment penalty so you can pay as much as you want but not obligated to pay more.A Heloc is a credit risk and can "never" be used as an asset or PITI reserve which is required when buying additional properties.

No permit required for long term rentals in un incorporated Cobb.

Jalen,There is actually a Portfolio program that will only require 15% down for any investment 2-4 unit multifamily.

Lenders are very tight in this market so requirements are much higher.

There are fix and flip loans where the total loan amount needs to be $100K between rehab, property purchase price and buyer down payment (usually 10-20% for a fix and flip loan depending on the property and borrower credit) (so the property before rehab can be worth less than $100K).If you are looking for a loan for an investment property you won't be living in that doesn't require significant rehab / ready to rent / is already rented an option is a DSCR loan.Some DSCR lenders will go down to a $75K appraised value and a $55K loan amount.