Best Financing options for SECOND House Hacking Property

[Santiago Scort]

Hi Everyone,

I purchased a Single Family home (4 bedrooms 2 bath) in 2017 which since then I have housed hacked by renting out two of the rooms. I am now considering leasing the entire home to one of my tenants and move on to repeat the process: Purchase  a 3 or 4 bedroom home and rent out the rooms again.

My question is the following: What options do I have as far as financing the second purchase? It's my understanding that a second FHA is difficult to get especially if the properties are in close proximity to each other. Is hardmoney lending a viable option for a house hacking plan?

Should I look into possibly finding someone that would be willing to fund the purchase with their own capital? 

Or is there another option out there that I should consider?

[Chris Mason]

SFR 95% LTV, owner occupy for a year, over and over again, each time the previous primary residence is converted to a standard long term rental with a single tenant who signs a standard 12 month lease, and makes a security deposit. The lease can allow for subletting.