Now take off 10% for property management, which if you are self-managing needs to be paid to your take-home bottom line, or you are "working for free"...not a good goal for one aspiring to be an investor. 

Jonathan Taylor Your problem relies on being an independent contractor, or self employed. 99% of the lenders are going to have the same answer.

(I'm self-employed in the trades, not that I'll be doing all the work.)I joined this community thinking it would be a good place to network and bought a pro membership for the calculators and access to the marketplace.

You could just cachout refi (6 months & 25% equity stays in) or delay finance (anytime after purchase and 30% equity stays in).If you're planning on staying for a while and like the area I would recommend to get a 2-4 plea and rent out the other half/units and self manage it.  

I just learned that realtors are self-employed and file their taxes on a 1099 form.

Thanks@Stone Jin I plan to self manage for the first year to learn as much as possible and figure out how to best automate but as I add additional units, I may outsource portions. 

For income tax purposes, if all trust income is distributed to the beneficaries every year,  the beneficiaries' state of residence determines the applicable state income tax rate on that income. 

Truth be told I've been self employed for 20+ years and have multiple endeavors going at any given time, with Real Estate always being one of them.  

Ultimately, I decided to self manage for the learning experience and cost savings. 

., it is not your self-employed business).