But most contractors want all the work and cost a ton of money which we don’t have since I’m using a construction advance loan. 

Then you just moved to a place you moved to not because you want to live there but because it has cheap rentals. agreed and you need a great w 2 to qualify for rental loans as well.. if anything selling and buying a house hack 4 plex and maybe another one with 20% down  ??

If the bank has taken the property as REO, then all the loans would have been forgiven, correct? 

Examples - owner occupied loans for house hackers, specific market knowledge (ie - friend of mine that ice fishes and bought a short term rental cabin in an ice fishing spot that you and I would never know of), ability to do renovation on your own or cheap, contacts with local companies or organizations that would be a tenant source for mid term rentals, ways to source off market deals, etc.Whatever it is, figure that out and get started.

The lease (with the current college students) was just renewed through their 2025 school year.I'm trying to figure out how to make this happen with little-to-no money down, as I have other 'irons in the fire' at the moment.I'm planning to offer $400-450k for the home, and am trying to structure something where a conventional lender would loan an amount that would be covered by the current rental rate (lets just say $300-350k)...   ...then, anything outside of that amount, would be carried by the Seller (for a short while)...   ...Seller financed with a ballon in 5-years?  

Do I have to claim the down payment as income since it was used to pay back a loan?

If you were to make a list: cash, hard money, 30 year loan, commercial financing, having partners ( you find the deal and they put up the money), IRA/401k Self Directed Investing and Seller Finance.There is always a lot of talk about how to invest with no money. 

Commercial loan What was the outcome?

DSCR loans for rent ready properties.

Land loan through Northpointe bank How did you add value to the deal?