Also, does/can this work with only raising part of the money via private money and the rest via a DSCR loan?  

With the landscape of today's interest rates how would you go about marketing a property for sale that has an assumable loans?

The issue with our loan would be that there is no collateral since our loan amount would be more than the land value itself if anything were to happen.

A portion of the payment is going towards loan pay down.

It depends on the type of loan you are applying for.

I have been looking online, but can't seem to find decent houses within the areas I have been searching in.

I would just use online free tools for application, screening and rent collection.

@Mark ShubinHouse hacking means buying a place and living in one part while renting out the rest to pay for the loan.

You can then use Transactional Funding if you choose, otherwise if you planned to buy the land then sell it later, you'd have to get a different loan type, which inevitably will cost you more plus longer hold time and greater costs over the double close and certainly over an assignment of contract.

I have no credit debt and $12,000 of student loan debt I'm looking to pay off within the year.