Multifam Financing Options When Fannie's Criteria Isnt Met

[Joshua Morgan]

I'm looking at buying my first rental property and need advice. I have the cash for a down payment and have been told the properties that I'm looking at do not meet Fannie's criteria. They both are in decent shape and cash flow well. One is a fourplex and the other is a duplex with a single family home on the same lot.

What are my options and what would you do if you were in my shoes? If you can break it down "Barney-Style" I would be appreciative!