The loan originator suggested that I work for a year and build a income first while paying off student loans so that I will have good rating; I just graduated college (completely different subject by the way).  

I've never been one to promote a college education for it's own sake as I think it's not for everyone.  

The property has 1 original owner whom is the current owner 2 levels the upstaris has a loft with 3 bedrooms.

I am coming out of college with the intent to go straight into investing in real estate and my question is regarding the financing for the first property.  

So a limited building permits and houses that are focused on owner occupants (read as higher priced) are creating a higher demand for affordably priced, lower end SFR that (ultimately) looks to put the 'entry level' rental housing product into a position to experience appreciation over the next decade.

I've been doing some smaller level real estate investing but my big obstacle has been how to get timely financing.  

February, 2015 housing starts are down 17% from January to 593,000 units annualized, which is essentially the same as February, 2014 which had 589,000 housing starts annualized.Unadjusted non-annual starts:February 2015 = 40,700February 2014 = 40,600February 2009 = 25,000February 2005 = 124,000February 2000 = 88,000The current level of housing starts is at 1980 levels, and about 50% of the starts from 1980 to 2006.The housing starts are 1/3 of the totals in 2005, ten years later, Where's the recovery?

All of my loans are conventional on my properties and they scrutinize everything from my cash reserves, my income level and needless to say debt to income ratios. 

That's federal poverty level income for a family of 4.  

Great to hear you are looking to bring it to the next level.