True non-recourse is extremely rare when investing in small commercial or residential properties and frankly does not really exist at the feasible LTVs most investors are looking to do. 

Do fees go up or down with less competition? 

Hello,As a beginning investor, what down payment amount would you suggest if doing a traditional mortgage?  

Do you use private capital to purchase homes?

Why do you think home prices will increase when rates come down?

So, we encourage you to play-the-game.WHAT TO DO?

Which of these options do you think is most suitable, also is there room to negotiate?

Some banks, however, will allow you to do a "transfer of ownership" to move the property back into your personal name when refinancing, but it could involve additional costs and paperwork.Hybrid Approach:Some investors choose to buy property in their personal name, refinance with the bank for better terms, and then transfer ownership to an LLC after the refinance.

You live in one and rent out the second room, while also renting out the other three units.If you are looking out of state, and do not intend to move there, I am not sure VA loan would be an option, in which case you will often need a higher down payment.As with all real estate, it is expensive.  

Quote from @Elias Halvorson: You probably can still do an DSCR, with a letter of explanation on the lates if you wanted something now, otherwise you can wait 5-7 months until those lates are no longer in the past 12 months and do a conventional loan  with better terms.