None of that matters if the property doesn’t align with your long term goals.

My goal is also to live in the residence for a year but that goal does not seem too attainable through the naca program.

Glad to hear that most of the people here are also concerned.I haven't been asked for any fees or wires yet, just the application (which I haven't filled out). there is no 6 to 7% interest loans  the only exception is a local community bank where you would have substantial deposit relationship a local project etc..

Best thing to do which most of them do not do is have a conversation about your goals and current income and assets.Getting your credit pulled 3-5 times can just hurt you in the long run if the lender has limited programs or extreme overlays.

Look up Micron Technologies, it’s a huge $100 billion project.

.💫 My next goal would be to purchase another single family this year (I wish the interest rates would drop a smidge), if unable to then continue saving until "the time is right".

Obviously it can be done, there are plenty of projects ongoing. 

I'm also a newbie and not confident in evaluating projects and borrowers, so would prefer to partner and diversify.I'm looking at debt funds at crowd funders like Fundrise, as well as business development (BDC) ETFs like Ares, Blue Owl, Golub.

DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

Make sure to take at least a small (10%-20% interest in the project).