Current House - Hacker on a Triplex,  still a DINK (Double Income No Kids.. for now) purchased off the MLS during COVID.

I have no W-2 income and have been advised to consider DSCR no-ratio loans, but current rates are in the low 9% range, which seems high.

I want single-family initially, no HOA’s, good school district.

2nd questions; I Just got pre approved for a non QM product: 20% down, 8.25% interest rate, 12 month pre payment penalty period, 2 points, and Conforming Conventional product: 25% down payment, 8% interest rate, no pre payment penalty, 1 point fee. 2-4 unit in Ohio.

Take a look, and it's no St George.Good Luck!

If so, I would suggest getting a no prepay or reduced prepay. 

DSCR lenders will be able to go up to 80% LTV and require no seasoning as long as there has been documented improvements and the property can debt service at the higher loan amount. 

Is this an automatic no go?

If you have performed rehab, my favorite programs offer both no seasoning and 90-day seasoning requirements to use the appraised value as the basis for your loan.

I understand that this is a weird situation and there is no clean solution, but I see it working.