What’s my best financing option for this 4-Plex?

[Jenny M.]

I am a first time investor. I am trying to structure an offer on a multifamily rental property in San Bernardino county. I want to create a no money down financing option where I can walk away with cash at closing for rehab and costs. I am uncertain about whether my running numbers is entirely accurate, since I am missing some details for my preliminary offer. What is the ideal kind of financing to pursue for this kind of deal? Also, who should I approach to check my math? Thanks guys! Any suggestions very much appreciated!! 

[Jaysen Medhurst]

@Jenny M., it's very unlikely that you will structure a deal where you get paid to buy a house. Your best option is probably a FHA 203 loan, which allows you to role in renovation costs and only requires 3-5% down. If you buy right and add value, you can then refi at a later date and maybe pull out some cash.

Run your deal through the BP calculators and post in the forums. The community is always happy to take a look.