Financing for a deal

[Joshua Taffe]

Hello,

I am looking to invest in a buy and hold of a 2 to 4 unit home in CT.

I currently found a duplex listed at 229,000. 3 BR 1 bath in both units. Rentometer says 1292 average so, let's say 1250 a unit. But the property has the possibility to add 2-3 bedrooms on the first floor and increase rents to 2,000 if upgraded to five bedrooms, my dad is a contractor with 30 plus years of experience without looking at it he gave me an estimate of 14k-20k material and work included, depending on the wiring, flooring, etc. I live out state in NY. Based on the 70% rule, the offer would hover right around 190000. I wouldn't necessarily be looking to flip it but more a buy and hold situation possible refi down the line. When looking into something like this I don't have the financing, and what are some ways creative ways around the 20 percent down payment rule, and does this applies I have no debt and a very high credit score or is that the rule all banks have especially toward a new investor. Also, What are some due diligence I can take when researching a property such as this? Sorry for being all over the place but that's how my brain works.