Starting out with 650k. Houston

[Clark Fang]

Hello all, 

This is a throwaway account because I am not looking to be deluged with investment opportunities. I recently came into a 650k inheritance and am looking to jumpstart my property investing goals. I have 2 years experience with Airbnb rentals company manager, we would purchase a property, do tear down and value add, and rent on Airbnb. Occupancy was we had done about 40 units when I parted with the company to start my own goals, as I felt I had gained enough experience to do so. My goal was to finish nursing school to get an income of 60-80k, so I would qualify for FHA loans on multifamily via FHA. My credit score is 700. My income for 2019-2020 was aprrox 50k, but this year I will make less than 20k for the next 2 years, as I go all out in finishing my schooling. My fiance makes 35k a year. I own one townhome paid in full, valued at 350-400k. Currently renting it for $2200 a month. I plan to fully manage and renovate any properties with my own crew to minimize expenses.

    Recently I came into an inheritance of 650k , not taxed. I want to use this to jumpstart my short term/ multifamily rental goals. Is there any way I would be able to secure financing on an apartment building with pricing around 2.5 million? If not that a multifamily at a value of 600k? What other financing options may possibly work for me? I really would prefer apartment building, as multifamily prices seem so high now. 

  Worst case scenario I will tuck the funds away until I finish college and my income qualifies me. However I an highly motivated to do a short term rental purchase now, while the occupancy rates are high and Covid seems to be coming to an end. 

Thank you all.