Youll generally get better terms on a conventional Fannie/Freddie loan than private loans; however, you do get capped on the number of financed properties you can have before you’ll have to look for alternate financing but if this is your first property I wouldn’t worry about that at this point.

Again, I'd think larger portfolios like yours would be a key audience the team would want to keep satisfied.Also, I've posted it elsewhere, but seeing some of the other comments around jumping ship to alternative products I will say that I ended up on YourPorter after unsuccessful trials of iGMS, BookingAutomation, and many of the other tools in the market.

What would be the best option or possibly an alternative creative financing that we don't know about?

It is vital to have a good understanding of the requirements of each kind of loan and how the various alternatives work before approaching a lender.

Alternatively lots of online fax systems and tenants can often just photograph with their phone and use a free fax service like FaxZero.com to send them over.

I want to know how easy it is to finance through a traditional lender or if finding an alternative financing method is a better way to go. 

(An alternative for aging trailers, will continue on such city lots, indefinitely, is to build roofs over them, & then enclose them in conventional frame walls, so that they are turned into facsimiles of frame-built houses.

It sounds like you’ve done your homework and 3% is as good or better than the alternatives.

I am not necessarily recommending this but it is good to think of other alternatives.

I was thinking of the following options:1) Pay X amount per rent for tenants to move out2) Live as a roommate for a large reduced rent while the tenants is moving out or until lease is up3) Figure an alternative way to make the property my primary residence, maybe living in a trailer in the backyard?