What's going on BP Family,

**Sorry for the lengthly post!**

I've been following BP for so long, and i'm finally biting the bullet and taking my first steps. I am a realtor in Connecticut, but began my real estate career in the rental market in Brooklyn, NY a little under 2 years ago, and 2020 was pretty much a dud due to the pandemic.

I'm looking for my first investment property, and depending on where it's located, I either plan on househacking, or buy and holding, and just renting it out. The more important thing, is I want to have my financing lined up before I even really start physically looking at properties. 

My associate and I are playing with options and figuring out what the best route would be, but are truly unsure what that may be. They are retired, and I am recently self employed. The issue we are both facing is our debt to income ratio when asking for FHA or conventional loan. So we are looking at possibly hard money or applying for a HELOC on their current property, and if approved, bringing that approval as proof to a bank or mortgage lender, along with current rent role from associate's current multifamily, previous tax returns & proof of funds, and market data for the area where we plan on buying and renting, to see if we can be pre-approved or approved for a refi down the road.

The question I have is, if we still don't either have enough income to pass the DTI test, or enough time/proof of money made in career yet, and again my associate is retired, do we have a chance at being preapproved or approved for the refi based on seeing what liquid money we have, the equity that will go back into the multifamily, and now, not 1 but 2 rent roles, as income? Are their easier ways around this?

Thank you all in advance!

-Jon