@Shawn Harvey if you plan to sell the note, make sure to use RMLO company to qualify your renter.

I'm new to this and I'm already doubting that there are enough people out there who have $6k for an option fee but have bad credit and won't qualify for a conventional loan.

I'm working with that lender but not sure I'll qualify for the same structure, but appreciate your feedback.

You can even do that now if you want to, if you don't qualify you should come away with a good understanding of what you need to do over the next year so that you can make a home purchase.

But if you can qualify for the properties with traditional market rents (not projected income from short term rentals), I would take advantage of that. 

You would need to refinance into commercial loans until you're able to qualify for conventional.

She's more than qualified alone. 

Get a contract highlighting this a takeover of 'existing' financing, and give myself a 90 days grace period before the first payment.4.

. $60k loans are possible, as long as you can qualify with your down payment, debt ratio, and credit.

As I have the funds to do so.But as a first time home buyer.how can I get qualified for first time homebuyer if paying all cash?