I rent that 2nd property out for $1500 per month which I will use to pay the new mortgage and my new HELOC loan.

What are some loans that don’t require 2 years of work history?

@Danny Van1) No state requirements2) Most mortgages only require borrower to owner-occupy property for first 12 months of loan.

Even for just one type of loan, each lender has can have their own index and spread.

I may have the opportunity to assume someone's VA loan, @ 2.5%.

I'd like to loan around $25k to start, but I'm undecided on loan terms, so any guidance in that area would be great.

During that 1-2 years, you have had loan buy down and hopefully appreciation in both property value and rent.

Longhorn Investments has been doing it for 15 years (>7500 closed loans). 

I have my first property under contract and my loan officer has been working with me for a couple weeks. 

When you are going to be living in one of the units you can use a low money down loan with a down payment of 3.5-5% down and live in the building for one year and then if you’ve saved enough for another down payment you can then put another 3.5-5% down on the next building and live there for a year and keep doing this year after year and build up a nice portfolio this way.