1st. rental purchase - Really struggling to qualify

[Alex Mendez]

I have a question... How do I qualify when I am self employed? I have been working for years in the gig industry. My main income comes from amazon flex. In 2022 I generated 55K and this year is going in the same direction. The issue is that past years I have deducted a lot and my net came in very low. I talked to a CPA and he tells me the best way, is to create an LLC. where these gigs agree to pay to the LLC and then pay me as a W2 employee which would be me in this case. This way I would apply as a W2 facilitating the process...has anyone heard of this? Other options would be to use an equity loan from a family member's property... or have my family member sign the property loan with me... I don't know... opinions? I want to buy a 300K house in Arizona... preferably triplex or more units to do house hacking.... Thank you very much

[Sloane Kraftsow]

Quote from @Andrew Bang:

Look at a DSCR loan, it just looks at the income of the property compared to the costs.

Hi Alex! House hacking is a great option but I just wanted to note that if you do the house-hacking route you can't do a DSCR loan because DSCR loans strictly do not allow owner occupancy of any unit.