Info on my personal situation
This is my first post as a member here on bigger pockets. I was hoping to get some general information that could help me purchase my first rental unit. I have been interested in rental units for a few years now and I feel that I would not be able to qualify for a mortgage ( I was hoping someone would help me find a way around this huge obstacle). I am 26 years old and am currently going to school full time to be an engineer. I served four years in the military and am using my post 911 G.I. bill for school. From my understanding, lenders will not count this money as income towards a loan. I am currently in an internship for the summer and will be back in school at the end of august. I would like to start investing in real estate rentals as soon as possible for obvious reasons. Is there any other way I can obtain a loan with my post 911 money counting as income (I also collect 250$ a month disability). I have two properties in mind, one is probably far out of my reach as it is a 5-plex for 280k with about 700$ cash flow being extremely conservative and another that I feel is more realistic for me as it is listed at 100k with two houses on site with about 400$ cash flow (conservatively again). Is my only option to wait until I graduate and secure a job before I can get a loan, or is there something else I can do. Any help is greatly appreciated. Thanks
Joe.