Financing house-hack property if self employed
Hello BP Nation!
I am looking to buy 4bed/3bath property in Texas, live in one room, rent out others - House-Hack.
*No W-2 income - Self employed
*20-25% down payment + healthy bank account
*will have 3 roommates to pay the mortgage
*property purchase with 20-30% discount, would remodel before rented to increase equity
QUESTIONS/CONCERNS:
1. SRF is not considered an investment property if I lived in. I could pay cash for it with HML or PM and refinance, BUT since it is the primary residence, I'd have to wait for 2 years to refi. High interest rates for 2 years will just kill the cashflow...
2. SFR if not lived in, requires additional stream of income to show to the lender. I could then refi after 6 months if paid cash, but would not be able to House-Hack.
-What are the options to get financing on about $200k property if self-employed to house hack knowing all the factors above? Any input from lenders and fellow investors would be highly appreciated!
Thank you, team!