Questions to ask Loan Officer:- What kind of loan programs do y'all have for rental properties - What are the loan amounts y'all typically lend on - Current interest rates- What are the terms - Any other information I should know Best of luck

So if that is where a good chunk of the value is at you may have a high down payment to overcome in order to get to an LTV that the bank is comfortable based on the house alone.I have not tried it, but you should check and see if any of the USDA home loan programs would work for the property.  

I'm not sure if it still exists, but there was an FHA loan program that allowed me to purchase a home using the credit and finances of my parents.

Typically with investment properties you'll be paying anywhere from 15-25% for the down payment (depending on bank/program) because you're not intending to occupy the property as a primary residence so the bank wants you to have more skin in the game (less risk for them).

My student loans are in collections and I'm currently in a rehabilitation program to get my loans out of default, but in the mean time I have no way to aquire any properties unless I pay all cash.

Fannie Mae allows each property owner to finance up to 4 financed properties via conventional loan program under the general Fannie Mae Guidelines.

At $1497 for the whole program?

I personally would say this is the main factor is the score, most time if the score is above 700 we could look at a Conventional Program such as HomeReady or HomePossible that would allow you to do this house hack with as little at 5% downIf the Credit score is under 700, then we would look at the FHA route with as low as 3.5% down.

Utilizing a low down payment program is a great way to go!

It looks like they have a grant program that can help pay for the costs, so I would definitely take advantage of that: https://choosecincy.com/homeow...