Examples of financed properties that do not have to be counted in this limitation include:■ Commercial real estate■ Multifamily (five or more units) real estate ■ Timeshares ■ Undeveloped land ■ Manufactured homes not titled as real property (chattel lien), unless the property is situated on the land that is titled as real property ■ Property titled in the name of the Borrower’s business provided that the Borrower, in his or her individual capacity, is not on title and/or is not obligated on the property■ Property titled in the name of a trust where the Borrower is a trustee, provided that the Borrower, in his or her individual capacity, is not on title and/or not obligated on the property (iii) The monthly housing expense related to the Borrower’s current Primary Residence must be used in calculating the Borrower’s monthly housing expense-to-income ratio (iv) Regardless of whether rental income from the Mortgaged Premises is used in qualifying, the reserves requirements in Sections 5501.2 and 5501.3 must be met (v) The aggregate negative rental income from all rental properties must be treated as an obligation and considered in calculating the Borrower’s monthly debt payment-to-income ratio (vi) Borrower Funds must not include gifts from a Related Person or gifts or grants from an Agency as described in Section 5501.3(c) (vii) If rental income is not used for qualifying, the monthly payment amount (as described in Section 5401.2) for the Mortgaged Premises plus operating expenses must be used in calculating the monthly debt payment-to-income ratio.

jeff knowing you dont have the cash to put down you're right, not the easiest thing to find a duplex in Nashville where 1 unit's rent pays for BOTH units.. may be able to find a triplex that needs work to do that, if you'd be willing to live in one of the smaller unitsas far as house hacking though, there are definitely options that pop up regularly on the MLSwas just looking at this one today:MLS# 1774826 -- https://www.redfin.com/TN/Nashville/1007-Riverside...depending on how much cash you put down, you can rent the upstairs unit there for ~$800/mo. 

Keep up-to date on what the law allows for business owners to deduct for things such as gifts or miscellaneous items.e your marketplace ad

I did it with all my properties and it's the easiest loan to qualify for, and the terms are semi-permanent (until you get your taxes straightened out) Rates are in the 7's, no points, on a 3/27.

I have found that residential properties don't mix well with commercial entities, especially if you will be owner-occupying @Melissa Kaatman-Boettge.First, you will potentially mess up the biggest gift the IRS will ever give you : tax-free gain on sale.  

And finally, if you get to know the neighbors (maybe send them a gift around xmas time or thanksgiving), they will be your greatest ally with your "illegal rental".  

These are the two easiest ways to help gauge the market.

They seek deals and commissions in the easiest and fastest way possible.

That is mortgage fraud and can get you in the slammer quick.Why not just go FHA and get a gift from your family if you are lower on funds??

Do you know if there will be a gift tax if the cash out will be around 50,000?