I'd be financing our first project as a personal loan, but I'm going to rent it, not live in it. 20% is required for an investment loan, but we want to take advantage of the first time home buyer opportunity I have. Are there any "beware of" factors for financing a home under a personal loan (legal owner), yet placing renters in it instead? Tax issues, utility requirements, govt mandates, etc.. 

I feel like this is the one time we could take advantage of not having to put as much down for an investment property. Every purchase after this one we'll put at least 20% down and it will be an investment loan. 

Any feedback would be greatly appreciated. Thanks in advance! 

Talk to the mortgage broker. Depending on the type of loan it actually is, you might run into issues with not living in it.

I honestly don’t know the ramifications, but if it’s an FHA, you’ll be signing that you’ll live there for 2 years.

Would anyone ever find out, I don’t know... but you should at least know the risks. (Which I know I didn’t really help explain) :)

Occupancy fraud is exactly that. Been around plenty of mortgage fraud over the last 15 years and have testified in many court cases and with the FBI.  Save up your 20%. Here's a decent article about what you are proposing - https://www.washingtonpost.com/realestate/a-little-lie-on-mortgage-application-can-cost-you-big/2015/06/30/2e2dcff0-1e6b-11e5-aeb9-a411a84c9d55_story.html?utm_term=.c4d702f3b02e

I spoke with our RE Attorney this week, and he made everything very clear. We're going to do the 20% down and an investment loan for our first purchase. Thanks for the link Mark!