Quick background - I live in Southern California and I am looking to purchase either a 2/2 condo or a small 3/2 single family house.

We want to buy a single-family home as close to debt-free as possible and then use leverage after that point.

Going through the same discussion on my wife's family farm.

Hi, I am new to Bigger Pockets and I am looking for my first single family long term rental deal.

Many do not allow it due to the city wanting to focus more on higher-priced real estate asset classes such as single-family homes, apartment buildings, etc. 

But there is a huge secondary mortgage market out there, most just do not know about it.Whole Loan Sales | Fannie MaeBasics of Single-Family MBS (fanniemae.com)

Investment Info:Single-family residence buy & hold investment.

I provided the 2023 booking history as evidence that is was in place prior to Jan 01.The $1M individual insurance clause got me.. we had to update the day we filed. 

If an investment property, there non-warrantable DSCR loan options.Some details:Loans available for purchase, rate and term refinance (no cash out) and cash-out refinanceCredits score down to 620LTV are up to 75% for purchase and 70% for cash out.Rate buydown feature available.DSCR (lower of gross rent lease or Form 1007/216 rent divided by PITIA) as low as 1.0x.For experienced investors (one year of investor experience and own home), short term rentals can be structured off of 12 month short term rental history with 20% expense factor.

However, there are also single family properties that can offer great returns as well.As for navigating buying a duplex with tenants, it's important to do your due diligence and review the current lease agreements to see if they will fit your plans as a landlord.