I don't believe me or my wife's income will be able to cover a full 80-90% LTV line of that amount but I want to be able to get a line as close as possible.Is there currently an institution that is recommended or any that should be avoided?

After finishing my last BRRR, I had my lease coming up for renewal in the main city I have to live in for my W2 Income.

Put 5% down, maxed out 3% credits, got an additional $3,000 out of inspection items, rolled commission into deal, after all of that and prorated rents we only came out of pocket $2,000 for the acquisition.

Plus the rental income - which while it typically starts out around 5-10% per year by year 10 you're seeing 30%+++ annual return on original basis. 

@Rick Albert That is a great idea, the problem I am having in CA is that the lenders I’ve spoken with have told me I don’t qualify for a necessary loan amount based on my income, even if I were to do a house hack.

Due to my research, it seems this owner claims a Homestead exemption on this Orlando, FL. property in addition to a split Home owner exemption on an additional out of state property for at least the past two years.

If you live in one unit and rent out the other, you can cover some or all of your mortgage and expenses with rental income.

One might start by contacting organisations such as the Colorado REIA (Real Estate Investors Association).Consider joining online platforms where local investors may congregate in addition to live events.

Hey Ajul, that bonus depreciation is no longer at 100%. in addition to that, you need to qualify as REPS or be using the short term rental loophole to even be able to take advantage of that deprecation against your active income.

But, could I minimize risk of renter defaulting on payments for the 2nd property by turning this property into a section 8 housing unit with guaranteed income from the gov't?