If you recently became self employed than you will have to wait for 2 yrs before you will qualify for a FHA loan.

Do you know you qualify to do bank money? 

A hard money loan is an asset-based loan with a high interest rate that usually serves as a short-term source of financing for borrowers who can’t qualify for a mortgage with a typical bank or mortgage lender.

Then when you get home you call the prospects that qualify for what you are looking for.  

I have a buyer client who is self-employed and has hard time qualifying for a loan.

How to qualify buyers, how to qualify sellers.  

Also, since your current house will not already be rented, so you would be qualified on the basis of being able to afford both the houses and the requirement of having enough cash reserves.So, as long as you do occupy the new house in a timely manner then it should be all good.

If you sell within 3 years of renting them out (if you decide to), you will probably qualify for the sec 121 tax free exclusion on your gains.  

So in this case, if it were just the roof leak and with all other things being equal that the rehab is to get it to a 'better' livable condition, would that qualify for rolling rehab costs into the over all financing.

I have been Pre-Qualified with VA Lender and have applied for Pre-Approval, all docs sent in and waiting to hear back any day now.I have to figure out if a specific four-plex I've got my eye on is worth the risk and effort.