So, I am going to throw out my thinking on something to get started and wondered if someone could just let me know if it seems like an okay idea of not.I am currently in a home (VA loan) that is costing me $4054 a month (haven't even been in the property a year yet and have a 5.75% interest rate). 

I can qualify for traditional bank loan 20% down but I’m exploring making two offers of traditional and seller finance. 

So, if we cannot qualify for Fannie/Freddie that means we would need to use a DSCR loan. 

My partner and I are looking to rehab our first property possibly with a 203k loan.  

i had to used a hard money lender for a bridge loan. for a 12 month term.

My wife is about to go back to school so she will not be contributing income as well as she will be tacking on a lot more debt to her initial student loans.

@Evan GaterBoth are not seniorThe one that was recorded first (lower book and page number) would be the senior in most instances unless it was recorded inproperly and there was a subordination agreementTypically the higher value loan is first as well when recording at same time.Hope this helps

I’d like to avoid any interest bearing loans.

I have approved people in the 500's because it's student loans that has brought their score down (I ignore medical and student loans).

If you rent this condo out and it brings in some positive cashflow, and then you move into a multifamily say 4 unit with an FHA or even conventional loan, you'll probably be spending about $40k-$50k all in on a high quality property.