Rookie investor seeking advice: Owner occupied property, conventional loan, qualified for 3% DP, sounds like a great deal for starter home buyers with less cash, and allow for greater appreciation for house-hacking owners, but what are the catch 22?

I did a lot of research and I can make more than what I do at a corporate America job it just won’t be the same income each month, like a 9-5 job is.Taking this into consideration, do you think I’ll have less opportunity to qualify for loans since I’ll have a 1099 job instead of a w2?

Marketing I've done: Listed property w/ local property managers - they post on MLS and syndicates to Zillow, apts.com and craigslistI'm posting myself in off-campus forums and forwarding qualified applicants to property managers for showings April 15-30th (when I didn't have the property managers)8-10 showings mostly off Zillow/FB~3 Applications0 qualified renters/0 tenants bookedMay Stats:9 or 10 showings 4 applications1 tenant booked in unit #1There are 2 remaining units, unit 2 and 3, which were initially priced higher than unit #1 because they are slightly larger -- That said, I'm thinking that I reduce prices and take advantage of the higher demand in the coming months...Does this answer your question?

I'm a college student and therefore don't qualify for any traditional financing(which I believe eliminates the FHA loan program).

I am wondering if this will still qualify as a second home or investment property ?

Due to the property's current state, I am not expecting to qualify for conventional off the bat.

If your finances are not exceptionally healthy, you might not qualify for the mortgage after taking out a HELOC. 

-CoreyA strategy to consider as Active Duty, assuming you will move often, is to purchase Single Family Homes that you're qualified to purchase using your VA loan.

But one thing it does seem would be beneficial would be to use an accountant that's familiar with every possible way to deduct your expenses now- someone who invests themselves or works with investors regularly- there may be things that qualify for expenses vs capital improvements that weren't accounted for. 

Asumming I can qualify for each of course.