House hacking is often promoted as the easiest way to get into real estate—buy a property, rent out part of it, and let tenants cover your mortgage.

Many DSCR programs require an investor to have a mortgage history- there are some DSCR mortgage programs that will work with investors who are renting- some refer to them as first time home buyers (FTHBs)- DSCR loans are only for investment properties where the owner isn't living there. 

Me and my wife currently have a sonyma fha loan.I have no other dti except for my mortgage payment.

Omitting this information may be mortgage fraud.

Typically when the homeowner is 90 days late on a mortgage payment the bank may issue a notice of default.

For your mortgage, a 30-year loan will give you lower monthly payments, which could be ideal while starting out.

.$847 in the bank699 Credit Score133% revolving utilization/over the limit maxed out personal credit cardsQuite a bit of other high interest debt/loans borrowed during the first year in business$3,580,000 Appraised Portfolio Valuation$2,139,400 DSCR Mortgage Debt in my LLCs$1,440,600 Equity (Appraised Value-Mortgage debt)8 Remodeled SFRs1 Converted Remodeled Duplex2 SFR Remodels currently in process2 Apartment Buildings - 13/14 units occupiedA little more experience to say the least234 Audible books in my libraryAs I'm sure any experienced investor can gather, having the sizable amount of personal debt as I do, supplier house account payments due, PMLs that need to be paid, etc, not having liquidity/any money in the bank is an ISSUE.

Generally though, you can deduct interest on the mortgage up to a certain point.

My tenants will cover the mortgage plus $300.

Mortgages are all under me personally.