If I was in financial distress and losing my home through foreclosure or tax delinquency, I would not want to deal with an enthusiastic newcomer trying to make money on my misfortune.

If tax returns and DTI is an issue look at private institutional lending. 

As it is we both have a strong desire to buy a SFH for ourselves but currently house hacking is a better solution because that other rent is paying our taxes and water and sewer bills and for some mid range priced renovations to the property.

We will use proceeds from the str to pay the note but may be missing some tax benefits with this structure. - The land was homesteaded under the same parcel ID as our primary residence as it was next door and will be carved out at sale. - We have lived in the house more than two years

I want to build this niche to be one of my primary income generators.Already networked and known within local REI community.

My personal residence payments are less than 15% from combined personal income.

While I have solid income and good credit, I'm uncertain if I'm too new to take advantage of this opportunity.I'd greatly appreciate advice from experienced investors on how to approach this.

If you're thinking about using a DSCR loan-more info below:DSCR loans won't use your income to underwrite the loan.

If someone does not need the income coming in from rentals because they have other sources of income, they might be more able and willing to wait to get a larger return from appreciation.

I found a company selling small notes on raw land ($10-$50k range) that they buy out of bankruptcy/tax sales.