Compared to an FHA loan, a conventional loan with a 5% down payment can have a cheaper monthly mortgage payment.When buying a single-family house, factors to take into account include your financial status, long-term objectives, and required down payment.

Most lenders require a portfolio of assets to be within the same county.

I would have to do a 5% conventional loan to avoid the self sustainable test required for an FHA loan.

I work with a handful of investor friendly lenders that don't require W2s or tax returns (lending is based on the property not the borrower) but am always exploring new avenues.

Are there specific conditions that are required to claim a loss for my wife since she worked on rental properties?

Gap funding usually requires collateral and or pledging of other unrelated assets. i don't like leveraging those items and are typically a oxymoron because if you have those assets and dont have cash you essentially get into a leverage position you dont need to be in.having a asset that can be pledged for a gap loan without cash to me is kind of an oxymoron in itself just my opinion. 

The Solo 401k requires earned income from self-employment.

Passive income streams require an upfront investment and a lot of nurturing in the beginning. 

In regards to the income levels, they way it works is the City will require a document be recorded against your deed that restricts the unit to tenants that make less than the amount specified. 

While you may be able to get away with not informing the county about the change in residency status, most of the legal residence application processes in SC counties to change your assessment ratio from 6% to 4% will require you to disclose if you currently claim this status elsewhere.