Texas: The New Frontier of LuxuryTexas, traditionally associated with large ranches and rural properties, has begun to stand out for its luxury offerings in rapidly growing urban cities.

I wouldn't touch your 1st mortgage unless the blended rate (Both the 1st and 2nd Position loan rate) is higher than a traditional cash out refi. 

I want to know the pros and cons should I take the traditional route and go through a agent or look for wholesalers? 

all my interactions with Scott have been positive (forums and in person).Final item is as is traditional they announced location of next BPCon after final keynote.  

I assume the rate on DSCR loans are slightly higher than traditional financing or home equity loans, is that correct?

House hacks are not like a traditional investment property and admittedly a little more emotion will play into whether it's going to work or not for you.

I think I would work towards positioning him to be successful in a typical job, build savings, and position him to be able to do a more traditional purchase.  

Not to mention it could be a challenge to get traditional financing because even though you're debt free without a high enough paying job your debt to income may still not meet their criteria for a loan that large. 

However, the higher interest rates with these products can be a downside, especially compared to traditional mortgages.

If the employer does not offer a Roth 401k then they 401k is traditional.