Eliminating fees will not immediately translate to reduced prices.

I'm happy to not maximise returns in order to have the passive income. 

I thought that the ability to work "whenever I wanted", and the commission potential and income, would help me get the basic funding needed for when I was finished with college.

@David Cheng - So, SBA requires 51% of the income be associated with the owner-occupant. 

Firstly, conventional loans now allow for ADU income to be counted as borrower income for financing.

My dad is retired and his credit score isn't the greatest while my credit score really good and debt to income is pretty low right now.Mortgage Owed: 118,000Money to Seller:  75,000Est.

It has no income, no assets, no credit.

Expect your loan to be underwritten using an appraisal that is based on the markets long term rents, not the higher income you presumable expect to collect operating as a STR.

Here are some steps and considerations to help you make an informed decision:Evaluate Cash Flow: Create a detailed spreadsheet that outlines all income and expenses associated with the property.

Hi Steve,You could put a second position loan on it - like a HELOAN but this will be based off of income/tax returns.