Hi, I am currently house hacking a duplex renting one unit tenants and living in the other.

Current value on the larger property is worth over $540k more than my acquisition and rehab costs.  

And yes, based on what you stated we would need more information but let's take it at face value - what if you don't show enough income to get a "traditional" loan?

Income (W2/business) comes sustains RE, RE doesn't sustain income, at least for quite some time, unless you happen upon a unicorn property.Then buy a multifamily place, use everyone's income to get a loan on it (there are financing programs around this) and have other people help to pay your mortgage. 

Purchase price: $140,000 Cash invested: $140,000 ARV 375,000...currently making monthly interest only payments to investor...using as primary res....Will refinance in a few months and use equity for other investments.

BTW, PV is currently hawking a "we partner with you" scheme that will cost $9500!

If you are an owner of the business your income is coming from then your income source is in a way "self dealing" in that you COULD if you choose puff your income to qualify for loans you otherwise would not qualify for.

Tho you told your current tenants  about the insurance before, if you would’ve gave a scenario like the one you’re dealing with now than maybe they would’ve gotten a clearer understanding and gotten the insurance. 

Hey John, as a cash investor with a few million to build a portfolio, the current issues in the Florida real estate market could present an opportune time to secure good deals.

Looking at online calculators, a rough value of it is currently 155,000.