Down payment can be higher than primary, but the good thing is that you won't need that much income to qualify because lenders can you 75% of the market rents for the units of the property.

We did not need help in deciding what our investment niche would be; we needed help in creating and implementing a tax strategy plan for a married couple composed of a high-income earner and a real estate agent and business owner.

I would suggest for your first acquisition to "house hack" and buy a primary residence that you can get preferred financing on and also make some income on.

I figure it could be a good educational tool and potential for some additional income in the form of referrals, and my own purchase commissions. 

DSCR is no income no doc .

No income No doc . 

You don't have multiple income streams like you would with multi-family The key is having the right local teams in place.

Purchasing your primary with this money, unless it produces income, will likely cost more at the higher interest rates of today vs what you have as a rate on this property.

3) since we will use a local property mgmt firm for marketing / bookings / rent collection, What business is the LLc in and what income and expenses do you report as those of the LLC (vs what do you maintain personally)?

I've applied for a conventional loan: 3 units, owner occupied, NJ, 5% down.I have enough W2 income to cover the loan and additionally, there are two units rented already.