Houses outside my price range

[Mark Howland]

I'm looking at a large (19 unit) multifamily property for college housing to buy and hold that is 750k and I love the idea of getting creative with financing but as I was thinking about hard money I realized that with my salary I would only qualify for a loan up to 500k. (I recently bought a home and my pre-approval was only that high) So I realize even if I do get hard money up front, I wouldn't be able to refinance after a year because of that. Or am I mistaken? Is there a work around for this?

I have 2 SFH's that are renting right now and my current house I'm house hacking a duplex but this is my first step into multifamily so I'm grateful for other's experience and advice!

Thanks!