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

Loan Amount 110kCurrents Rents $1,375/moMarket Rents $2100 5 bed 3 bath Happy to look at pricing for you with additional details.cheers!

The best option would likely be a construction loan, which can cover both the purchase of the land and the build.

Hi everyone!
My wife and I have an opportunity to purchase a property in South Lake Tahoe from her father. Over the past 10 years, he and his late wife poured their hearts into building this home (with permits, of co...

Regarding borrow's DTI, Chase thinks that this item is not that important.I wonder will my high DTI impact the loan underwriting?

With $50K and a DSCR loan, your budget will likely cap at properties in the $150K-$170K range, depending on the closing costs and any repairs needed.

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

@Kayla Elliott  Hi Kayla - this was a commercial mortgage loan with a local bank, that held it "in house" after it was issued. 

The lenders that offer the 203k renovation loan are telling me that DPA cannot be used with it and this is in Ohio.

My mother-in-law is saying that my wife needs to sign off on the loan.