I have good credit, but not sure how to obtain financing with my current income so I am looking for financing options that don't require me to provide 2 years proof of income.My current plan is to do the following but would like a professional opinion before proceeding.

My credit is good. 

If your parent’s currently occupy the home, at death if you move in you can get their property tax basis. 

Since you requested any book recommendations, I wanted to point you towards Tax Free Wealth by Tom Wheelwright. 

Definitely discuss w your tax advisor too.  

I think the tax benefits combined with building equity is the goal, cash flow is not a major issue thankfully with our household w2 income.

., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return. 

Also, your credit  matter to an extent as well as if the property will cashflow(some lenders use the market rent) or if there are already tenants in the property with signed lease contracts.

If its a 2-4 unit you only need 15% down using a True Portfolio program and you have DSCR as a back up that uses the STR rents to qualify and avoid personal tax returns or income.  

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