@Vivian O, if you went with a Fannie Mae Homestyle renovation loan to buy a beat up single family and fix it the way you like, you may find the key to your issue.Best of luckStephanie

Originally posted by @Molly Thompson:This post has been marinating in my head for a couple of months.

HUD requires 1 year on FHA loans,  FANNIE MAE and FREDDIE MAC REQUIRE 6 months and there's no waiting period normally on non-qm loans 

Jack,Just recently Fannie Mae announced that they are going to be offering 5% down conventional loans for 2,3, and 4 unit properties. 

Broadway (N: N Broadway | E: I-71 | S: Ackerman Rd | W: Route 315)Worthington EAST (N: I-270 | E: Railroad west of Huntley Rd | S: Chase Rd | W: N High)South Clintonville/Clintonville/Whetstone/Indian Springs/Beechwold (N: Morse Rd | E:Indianola Ave | S: Glen Echo Creek | W: Olentangy River)Brookside Village/Woods/Estates/Colony (N: I-270 | E: Railroad east of Perry Park | S: W DublinGranville Rd | W: Sawmill Rd)Northeast of Upper Arlington (Riverview/Cranbrook/The Knolls/Knolls West/Northcrest/Henderson Heights/Olentangy Commons/Misty Meadows/The Gables/Sycamore Hills/Olentangy ParkDublin School Sliver, East of Scioto River (Sawmill Ravines/Hayden Falls/Crown Ridge/Sawmill Park/Greystone Mews/Dale Center/Meadowland Heights/Sunnydale Estates) Railyard/Hilliard Green/Sweetwater (N: Scioto Darby Rd | E: I-270 | S: I-70 | W: Spindler Rd) HilliardEast of Hilliard: (N: Tuttle Rd | E: Scioto River | S: I-70 | W: I-270)BlacklickGahannaSouth of Powell (N: Jewett Rd | E: Route 315 | S: I-270 | W: Sawmill Rd)CrosswoodsB-/C+ Neighborhoods:Olde Towne East SOUTH (N: Bryden Rd | E: Wilson Ave | S: I-70 | W: Parsons Ave)Southern Orchards NORTH - 43206 (N: E Livingston Ave | E: Linwood Ave | S: E Whittier St | W:Parsons Ave)Southern Orchards SOUTH - 43206 (N: E Whittier St | E: Lockbourne Rd | S: Thurman Ave | W:Parsons Ave)Driving Park (N: Livingston Ave | E: I-70 | S: E Whittier St | W: Linwood Ave)Green Acres (N: I-70 | E: Kimball Pl | S: Livingston Ave | W: I-70)Old Oaks (N: Mooberry St | E: Kimball Pl | S: E Livingston St | W: S Ohio Ave)South of Main (N: E Main St | E: Alum Creek | S: I-70 | W: Wilson Ave)Livingston Park (N: Mooberry St | E: Kimball Pl | S: E Livingston St | W: Parsons Ave)Hungarian Village - 43207 (N: E Morrill Ave | E: Parsons Ave | S: E Woodrow Ave | W: S High St)Franklinton NORTH (N: McKinley Ave | E: 315-N | S: W Broad St | W: Glenwood Ave Railroad)Franklinton SOUTH (N: Sullivant Ave | E: 315-N | S: I-70 | W: Glenwood Ave Railroad)Reeb-Hosack - 43207 (N: E Woodrow Ave | E: Parsons Ave | S: Hosack St | W: S High St)Milo Grogan NORTH (N: E 11th Ave | E: I-71 | S: E 5th Ave | W: Railroad west of Cleveland Ave)Eastgate (N: I-670 | E: Route-62 | S: E Broad St | W: Railroad east of Woodland Ave )Woodland Park NORTH (N: I-670 | E: Railroad east of Woodland Ave | S: Greenway Ave | W: Taylor Ave)Mount Vernon (N: I-670 | E: Taylor Ave | S: Atcheson St/Mount Vernon | W: I-71)King-Lincoln Bronzeville NORTH (N: Atcheson St/Mount Vernon | E: Taylor Ave | S: E Long St |W: I-71)Sharon Heights (N: Cemetery Dr/Chase Rd | E: Indianola Ave | S: Morse Rd/W Rathbone | W:Olentangy)Greenbriar Farm (N: E Broad St | E: I-270 | S: E Main St | W: Big Walnut Creek)Urban Crest (N: I-270 | E: Route 62 | S: Southwest Blvd | W: Lewis Center Way)Grove City WEST (N: Southwest Blvd | E: Route 62 | S: Grove City Rd | W: Big Run South Rd)Eastmoor NORTHWEST (N: E Broad St | E: James Rd | S: E Livingston St | W: S Gould Rd)Broadleigh WEST (N: Railroad south of 5th Ave | E: James Rd | S: E Broad | W:Stanwood/Roosevelt/Gould)North Linden NORTH (N: E Cooke Rd | E: Cleveland Ave | S: E Broadway | W: I-71)Clinton EstatesMaize-MorseSalem Village (N: E Dublin Granville Rd | E: I-71 | S: Morse Rd | W: Railroad west of Sinclair Rd)Forest Park/Woodward ParkMinerva ParkDevonshire/Northgate/Northern WoodsNorthern Woods/Huber RidgeC Class Neighborhoods:Southwest HilltopRiverbend/BrookshireHolly Hill/Georgian HeightsValleyview/Hilltop NORTH (N: I-70 | E: I-70 | S: W Broad St | W: I-270)Lincoln Village/New RomeSouthwest Columbus (N: Greenlawn Ave | E: Scioto River | S: I-270 | W: Brown Rd)Grove City NORTH (N: I-270 | E: I-71 | S: Columbus St/Stringtown | W: Route 62)ObetzBriceBlacklick EstatesZimmer/Glenbrook/EastlandSouth Side/Scioto Southland/Marion-Franklin/Alum-Crest Acres/South Alum Creek Steelton/Stambaugh-Elwood - 43207 (N: E Woodrow Ave | E: S Champion/Lockbourne | S: Frank Rd | W: Parsons/S High)Vassor Village - 43207 (N: Thurman Ave | E: S Champion Ave | S: E Woodrow Ave | W: Parsons)Innis Garden Village/Milbrook/North Alum Creek (N: Frebis Ave | E: Rt-33 | S: Rt-104 | W:Lockbourne Rd)Edgewood - 43207 (N: Frebis Ave | E: Lockbourne Rd | S: Marion Rd | W: S Champion)Deshler Park (N: E Whittier St | E: Lockbourne Rd | S: Frebis Ave | W: Alum Creek Dr)Mount Vernon (N: I-670 | E: Taylor Ave | S: Atcheson St/Mount Vernon | W: I-71)Linwood/Leewood/Pine Hills (East of Berwick)Beechwood/Shady Lane (East of Berwick)Broadleigh EAST (N: Roosevelt Ave | E: Bernice Ln | S: E Broad | W: James Rd)WhitehallReynoldsburgWest of ReynoldsburgNorth Linden SOUTH (N: E Broadway | E: Cleveland Ave | S: Hudson Ave | W: I-71)East Columbus Gateway (N: International Gateway | E: Stelzer Rd | S: Railroad south of AvalonPl | W: I-670)South Linden (N: E Hudson St | E: Billiter Blvd | S: Railroad north of 5th Ave | W: I-71)East Linden - Shepherd, Devon Tri, Amercrest, Brentnell, Argyle Pk)Northeast ColumbusMilo Grogan EAST (N: Railroad south of E 11th Ave | E: Railroad west of Joyce Ave | S: I-670 |W: I-71)Franklinton NON-NIPPLE/South Franklinton (N: Scioto River | E: Rt-315 | S: Greenlawn Ave | W:I-70)C- Class Neighborhoods:South Hilltop/South Central Hilltop/Central Hilltop (N: Broad St | E: Brown Rd | S: Eakin Rd | W:S Hague Ave)

First you must understand Fannie Mae's view on LLC's.

Starting Nov 18th buyers can purchase a 2-4 unit primary home with just 5% down on a Conventional loan (Fannie Mae) For context: 2 units used to require 15% down (some exceptions), and 3-4 units required 25% down.Home buyers will be able to generate rental income with minimal out of pocket as long as you occupy one of the units. 

They are fully appraisable per Fannie Mae if they are owned but not if leased.You have different options.

To get you the most advantageous pricing, I recommend you consider using Fannie Mae's HomeReady product.

Also, Fannie Mae has 100% ironed out all of the terms and guidelines to these loans.