So I would use a low money down program like the VA loan and buy a house hack, wait out the occupancy requirement and do it again with FHA, wait out that requirement and then see if a commercial bank will work with you.  

Doesn't it make more sense to take advantage of the low rates that are available now?

I know you can get a low money down 3.5% with the FHA loan, but I'm not sure of any other traditional finance method that can get you into a property for less than that. 

Due to low inventory and trying to stir up more opportunities I recently put a few posts on Craigslist for my target market indicating I buy houses for cash.I have gotten several responses and asked them a few questions via email prior to a phone call.SO for those experienced in doing this, what is your approach to vetting people prior to making a trip to their property?

We are supply short..very low on inventory.

The area is low income, but high traffic and investors are actively converting homes into small multifamily units.  

The level of competition here has increased in western WA.  

This led to our thinking that we could fall into the next best level of value.We had our first open house 3 weeks in and couldn't keep people out of the house!

However the math is simple… run an amortization calculator see what the taxes & Mort payment are, and then know what a flat in that area rents for, With that said here is 2 typical examples of Albany propertiesNew Scotland area 2 family’s run around 220k, 6k taxes, 1k insurance payment would be around 1570 a month, typical rentals would be around 1300Washington ave areas 2 family will run around 140, 3500 in taxes, 1k insurance would be about 1000 a month, with rentals being around 1000 a month.So you pretty much can break even in the not as good areas, grab a roommate or 2 and you’re really cash flowing.But don’t forget about the big savings of the low down payment and locked in low interest rate when you plan on exiting in 2-3 years

Brandon's book on no or low money down investing would help a lot if you don't have much funds.